Ingles Markets (NASDAQ:IMKTA) Issues Quarterly Earnings Results

Ingles Markets (NASDAQ:IMKTA) released its earnings results on Thursday. The company reported $1.28 EPS for the quarter, FiscalAI reports. Ingles Markets had a return on equity of 6.45% and a net margin of 1.93%.The business had revenue of $1.31 billion during the quarter.

Ingles Markets Stock Up 1.0%

NASDAQ:IMKTA traded up $0.82 on Friday, hitting $86.60. The stock had a trading volume of 98,640 shares, compared to its average volume of 131,166. The business’s fifty day moving average is $88.45 and its 200 day moving average is $79.60. The company has a market cap of $1.64 billion, a PE ratio of 15.77 and a beta of 0.62. The company has a quick ratio of 1.69, a current ratio of 3.36 and a debt-to-equity ratio of 0.30. Ingles Markets has a 52 week low of $59.09 and a 52 week high of $95.62.

Ingles Markets Dividend Announcement

The company 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 dividend payout ratio is presently 12.02%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Ingles Markets by 3.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company’s stock valued at $272,000 after buying an additional 144 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Ingles Markets by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,966 shares of the company’s stock valued at $446,000 after buying an additional 157 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Ingles Markets by 14.4% during the third quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock valued at $109,000 after buying an additional 197 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Ingles Markets by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock valued at $327,000 after buying an additional 209 shares during the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of Ingles Markets by 4.0% during the fourth quarter. Ballentine Partners LLC now owns 5,643 shares of the company’s stock valued at $387,000 after buying an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Ingles Markets from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

About Ingles Markets

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.