BidaskClub lowered shares of Ingles Markets (NASDAQ:IMKTA) from a hold rating to a sell rating in a research note released on Tuesday, BidAskClub reports.

Shares of NASDAQ IMKTA traded down $0.70 during mid-day trading on Tuesday, reaching $36.15. The company had a trading volume of 34,535 shares, compared to its average volume of 76,277. The company has a current ratio of 2.05, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22. The stock has a market cap of $744.92 million, a PE ratio of 9.49, a P/E/G ratio of 0.81 and a beta of 0.55. The company has a 50-day moving average price of $43.44 and a two-hundred day moving average price of $40.85. Ingles Markets has a 1-year low of $25.57 and a 1-year high of $49.14.

Ingles Markets (NASDAQ:IMKTA) last issued its earnings results on Tuesday, December 10th. The company reported $1.04 earnings per share (EPS) for the quarter. The business had revenue of $1.08 billion for the quarter. Ingles Markets had a return on equity of 11.80% and a net margin of 1.83%. On average, research analysts expect that Ingles Markets will post 4.3 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, January 8th. Ingles Markets’s payout ratio is 16.38%.

In other news, Director Sharp Laura Ingle sold 2,500 shares of Ingles Markets stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $47.44, for a total transaction of $118,600.00. Following the transaction, the director now owns 32,500 shares in the company, valued at $1,541,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 29.20% of the company’s stock.

Several hedge funds have recently modified their holdings of IMKTA. Northwest Investment Counselors LLC purchased a new position in shares of Ingles Markets during the third quarter valued at $40,000. Meeder Asset Management Inc. grew its holdings in shares of Ingles Markets by 66.6% during the fourth quarter. Meeder Asset Management Inc. now owns 913 shares of the company’s stock valued at $44,000 after buying an additional 365 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in Ingles Markets during the fourth quarter valued at $58,000. Anderson Fisher LLC acquired a new stake in Ingles Markets during the fourth quarter valued at $82,000. Finally, Bank of Montreal Can boosted its position in Ingles Markets by 21.0% during the fourth quarter. Bank of Montreal Can now owns 3,081 shares of the company’s stock valued at $146,000 after purchasing an additional 535 shares during the last quarter. Institutional investors and hedge funds own 66.20% 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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