Ingles Markets (NASDAQ:IMKTA) Sees Unusually-High Trading Volume

Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) saw an uptick in trading volume on Thursday . 158,316 shares were traded during trading, an increase of 78% from the previous session’s volume of 88,878 shares.The stock last traded at $62.22 and had previously closed at $66.14.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 21st.

Ingles Markets Stock Down 4.8 %

The stock has a market cap of $1.20 billion, a PE ratio of 6.72 and a beta of 0.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.99 and a quick ratio of 1.49. The company has a 50 day moving average price of $73.66 and a two-hundred day moving average price of $73.03.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.67 earnings per share for the quarter. The company had revenue of $1.39 billion for the quarter. Ingles Markets had a net margin of 2.74% and a return on equity of 10.58%.

Ingles Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 10th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.05%. Ingles Markets’s dividend payout ratio (DPR) is 7.12%.

Hedge Funds Weigh In On Ingles Markets

Several large investors have recently added to or reduced their stakes in IMKTA. Brandes Investment Partners LP grew its position in shares of Ingles Markets by 111.0% during the second quarter. Brandes Investment Partners LP now owns 196,753 shares of the company’s stock worth $13,480,000 after purchasing an additional 103,507 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Ingles Markets by 103.1% during the second quarter. Systematic Financial Management LP now owns 181,564 shares of the company’s stock valued at $12,457,000 after buying an additional 92,164 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Ingles Markets by 9.5% in the second quarter. American Century Companies Inc. now owns 369,184 shares of the company’s stock worth $25,330,000 after buying an additional 32,013 shares in the last quarter. Denali Advisors LLC boosted its position in shares of Ingles Markets by 40.6% during the second quarter. Denali Advisors LLC now owns 92,102 shares of the company’s stock worth $6,319,000 after acquiring an additional 26,607 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Ingles Markets during the fourth quarter valued at $1,574,000. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Ingles Markets Company Profile

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.