BidaskClub cut shares of Ingles Markets (NASDAQ:IMKTA) from a strong-buy rating to a buy rating in a report released on Saturday, BidAskClub reports.

Separately, Zacks Investment Research cut shares of Ingles Markets from a strong-buy rating to a hold rating in a research report on Thursday, October 10th.

IMKTA opened at $44.12 on Friday. The company has a quick ratio of 0.50, a current ratio of 2.01 and a debt-to-equity ratio of 1.27. Ingles Markets has a 12 month low of $25.57 and a 12 month high of $49.14. The company has a fifty day simple moving average of $45.70 and a 200 day simple moving average of $39.36. The stock has a market cap of $898.28 million, a P/E ratio of 10.95, a P/E/G ratio of 1.01 and a beta of 0.44.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Wednesday, January 8th. Ingles Markets’s payout ratio is presently 16.38%.

In related news, Director Sharp Laura Ingle sold 2,500 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $47.44, for a total value of $118,600.00. Following the completion of the transaction, the director now directly owns 32,500 shares of the company’s stock, valued at approximately $1,541,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 29.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC boosted its stake in shares of Ingles Markets by 33.9% during the 3rd quarter. Millennium Management LLC now owns 13,804 shares of the company’s stock worth $536,000 after buying an additional 3,492 shares during the last quarter. Zebra Capital Management LLC boosted its stake in shares of Ingles Markets by 24.4% during the 3rd quarter. Zebra Capital Management LLC now owns 11,719 shares of the company’s stock worth $455,000 after buying an additional 2,297 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Ingles Markets by 1.3% during the 3rd quarter. California State Teachers Retirement System now owns 22,047 shares of the company’s stock worth $857,000 after buying an additional 293 shares during the last quarter. State Street Corp boosted its stake in shares of Ingles Markets by 0.6% during the 3rd quarter. State Street Corp now owns 380,968 shares of the company’s stock worth $14,804,000 after buying an additional 2,208 shares during the last quarter. Finally, Davidson Investment Advisors acquired a new stake in Ingles Markets in the 3rd quarter valued at about $248,000. Institutional investors own 66.11% of the company’s stock.

About Ingles Markets

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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