Key Points
- Director Dwight Jacobs bought 500 shares of Ingles Markets on May 20 at an average price of $88.07 per share, for a total of $44,035. The purchase was disclosed in an SEC filing.
- Ingles Markets shares were up about 1% and opened at $87.36, with the stock trading near its 50-day moving average and above its 200-day average. The company has a market value of about $1.66 billion.
- The company reported first-quarter EPS of $1.28 on revenue of $1.31 billion and recently paid a quarterly dividend of $0.165 per share. Ingles Markets’ annualized dividend yield is about 0.8%.
Ingles Markets, Incorporated (NASDAQ:IMKTA - Get Free Report) Director Dwight Jacobs purchased 500 shares of Ingles Markets stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $88.07 per share, with a total value of $44,035.00. Following the completion of the acquisition, the director directly owned 500 shares in the company, valued at approximately $44,035. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Ingles Markets Trading Up 1.0%
Shares of IMKTA stock opened at $87.36 on Friday. The business's fifty day moving average price is $88.61 and its 200 day moving average price is $80.63. Ingles Markets, Incorporated has a 1-year low of $59.09 and a 1-year high of $95.62. The firm has a market capitalization of $1.66 billion, a PE ratio of 15.91 and a beta of 0.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.34 and a quick ratio of 1.77.
Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 6.41%. The company had revenue of $1.31 billion for the quarter.
Ingles Markets Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 9th were issued a $0.165 dividend. The ex-dividend date was Thursday, April 9th. This represents a $0.66 annualized dividend and a yield of 0.8%. Ingles Markets's payout ratio is 12.02%.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Weiss Ratings raised shares of Ingles Markets from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, May 14th. Wall Street Zen cut shares of Ingles Markets from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Ingles Markets currently has a consensus rating of "Buy".
Get Our Latest Stock Analysis on Ingles Markets
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in shares of Ingles Markets in the third quarter worth about $38,000. Global Trust Asset Management LLC purchased a new stake in shares of Ingles Markets during the 1st quarter valued at about $38,000. Highlander Partners L.P. acquired a new position in Ingles Markets during the 4th quarter worth approximately $45,000. Eastern Bank acquired a new position in Ingles Markets during the 4th quarter worth approximately $48,000. Finally, Torren Management LLC purchased a new position in Ingles Markets in the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 62.54% of the company's stock.
About Ingles Markets
(
Get Free Report)
Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.
In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.
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