Ingles Markets, Incorporated (NASDAQ:IMKTA) Short Interest Update

Ingles Markets, Incorporated (NASDAQ:IMKTA) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 588,400 shares, a decline of 8.0% from the October 15th total of 639,300 shares. Based on an average trading volume of 140,800 shares, the short-interest ratio is currently 4.2 days.

Ingles Markets Stock Performance

Shares of NASDAQ:IMKTA traded down $0.22 during trading on Monday, reaching $69.83. The stock had a trading volume of 92,022 shares, compared to its average volume of 101,812. The company has a quick ratio of 1.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $67.77 and a two-hundred day simple moving average of $70.95. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 8.34 and a beta of 0.72. Ingles Markets has a 52 week low of $59.73 and a 52 week high of $89.59.

Ingles Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 10th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, October 10th. Ingles Markets’s dividend payout ratio (DPR) is 7.86%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of Ingles Markets by 18.0% during the second quarter. AQR Capital Management LLC now owns 55,187 shares of the company’s stock valued at $3,786,000 after buying an additional 8,432 shares during the last quarter. Brandes Investment Partners LP raised its holdings in Ingles Markets by 111.0% in the 2nd quarter. Brandes Investment Partners LP now owns 196,753 shares of the company’s stock valued at $13,480,000 after acquiring an additional 103,507 shares in the last quarter. River Road Asset Management LLC lifted its position in shares of Ingles Markets by 7.1% in the 3rd quarter. River Road Asset Management LLC now owns 971,026 shares of the company’s stock worth $72,439,000 after acquiring an additional 64,296 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Ingles Markets during the 2nd quarter worth approximately $641,000. Finally, Private Advisor Group LLC bought a new stake in shares of Ingles Markets during the third quarter valued at approximately $603,000. 62.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

About Ingles Markets

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.