Ingles Markets (NASDAQ:IMKTA) Upgraded at StockNews.com

StockNews.com upgraded shares of Ingles Markets (NASDAQ:IMKTA) from a hold rating to a buy rating in a report published on Monday.

Ingles Markets Stock Up 1.1 %

Ingles Markets stock opened at $64.44 on Monday. The stock has a 50-day simple moving average of $68.70 and a 200-day simple moving average of $70.28. The company has a market capitalization of $1.22 billion, a P/E ratio of 7.67 and a beta of 0.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. Ingles Markets has a fifty-two week low of $59.73 and a fifty-two week high of $89.59.

Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Friday, December 27th. The company reported ($0.08) EPS 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 company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, January 9th. Ingles Markets’s dividend payout ratio (DPR) is presently 7.86%.

Hedge Funds Weigh In On Ingles Markets

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMKTA. GAMMA Investing LLC increased its holdings in shares of Ingles Markets by 413.9% in the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock valued at $30,000 after purchasing an additional 327 shares in the last quarter. CWM LLC increased its holdings in Ingles Markets by 75.5% in the third quarter. CWM LLC now owns 760 shares of the company’s stock valued at $57,000 after buying an additional 327 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Ingles Markets in the second quarter valued at about $69,000. Signaturefd LLC lifted its position in shares of Ingles Markets by 101.0% during the 2nd quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock valued at $69,000 after acquiring an additional 504 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Ingles Markets during the 2nd quarter worth approximately $75,000. Institutional investors and hedge funds 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.