Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus target price of $64.00 for the company, according to Zacks. Zacks has also given Ingles Markets an industry rank of 99 out of 256 based on the ratings given to its competitors.

IMKTA has been the topic of several research reports. ValuEngine upgraded XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, BidaskClub cut Waterstone Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st.

Shares of IMKTA traded up $0.08 during mid-day trading on Friday, reaching $32.31. The company had a trading volume of 442 shares, compared to its average volume of 61,130. Ingles Markets has a 52-week low of $25.57 and a 52-week high of $37.65. The company has a quick ratio of 0.46, a current ratio of 1.94 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $648.09 million, a PE ratio of 6.72, a P/E/G ratio of 1.18 and a beta of 0.48. The company has a 50 day moving average price of $31.14.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.74 earnings per share (EPS) for the quarter. The company had revenue of $1 billion for the quarter. Ingles Markets had a return on equity of 12.26% and a net margin of 1.93%. Analysts anticipate that Ingles Markets will post 3.4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, July 11th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $0.66 annualized dividend and a dividend yield of 2.04%. Ingles Markets’s dividend payout ratio is currently 13.72%.

In other news, Director Sharp Laura Ingle sold 5,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $31.06, for a total transaction of $155,300.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $465,900. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 29.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in IMKTA. Municipal Employees Retirement System of Michigan purchased a new position in Ingles Markets in the fourth quarter valued at $1,636,000. BlackRock Inc. boosted its holdings in Ingles Markets by 4.4% in the fourth quarter. BlackRock Inc. now owns 1,103,946 shares of the company’s stock valued at $30,050,000 after purchasing an additional 46,530 shares during the period. Intrepid Capital Management Inc. purchased a new position in Ingles Markets in the first quarter valued at $1,023,000. Millennium Management LLC boosted its holdings in Ingles Markets by 139.8% in the fourth quarter. Millennium Management LLC now owns 63,455 shares of the company’s stock valued at $1,727,000 after purchasing an additional 36,990 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Ingles Markets by 291.5% in the first quarter. Acadian Asset Management LLC now owns 27,442 shares of the company’s stock valued at $757,000 after purchasing an additional 20,433 shares during the period. Hedge funds and other institutional investors own 62.46% of the company’s stock.

Ingles Markets Company Profile

Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.

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