Insider Buying: Ingles Markets (NASDAQ:IMKTA) Director Buys $44,035.00 in Stock

Ingles Markets, Incorporated (NASDAQ:IMKTA) Director Dwight Jacobs bought 500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $88.07 per share, for a total transaction of $44,035.00. Following the completion of the transaction, the director owned 500 shares in the company, valued at $44,035. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ingles Markets Price Performance

Shares of Ingles Markets stock opened at $88.42 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.77 and a current ratio of 3.34. The firm’s 50-day simple moving average is $88.67 and its 200-day simple moving average is $80.68. Ingles Markets, Incorporated has a twelve month low of $59.09 and a twelve month high of $95.62. The firm has a market cap of $1.68 billion, a P/E ratio of 16.11 and a beta of 0.62.

Ingles Markets (NASDAQ:IMKTA) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter. The business had revenue of $1.31 billion for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 6.41%.

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 given a $0.165 dividend. The ex-dividend date was Thursday, April 9th. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Ingles Markets’s payout ratio is 12.02%.

Hedge Funds Weigh In On Ingles Markets

A number of institutional investors have recently modified their holdings of IMKTA. Royal Bank of Canada raised its stake in shares of Ingles Markets by 15.4% in the first quarter. Royal Bank of Canada now owns 19,083 shares of the company’s stock worth $1,243,000 after acquiring an additional 2,544 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ingles Markets by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,617 shares of the company’s stock worth $561,000 after acquiring an additional 385 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Ingles Markets by 275.9% in the first quarter. Jane Street Group LLC now owns 30,644 shares of the company’s stock worth $1,996,000 after acquiring an additional 22,492 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Ingles Markets by 17.3% in the second quarter. Cetera Investment Advisers now owns 4,351 shares of the company’s stock worth $276,000 after acquiring an additional 641 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Ingles Markets by 19.2% in the second quarter. Russell Investments Group Ltd. now owns 3,155 shares of the company’s stock worth $200,000 after acquiring an additional 509 shares during the last quarter. 62.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IMKTA has been the topic of a number of recent analyst reports. Weiss Ratings upgraded 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 lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

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.