Ingles Markets (NASDAQ:IMKTA) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Ingles Markets, Incorporated (NASDAQ:IMKTA) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $85.97 and traded as low as $85.44. Ingles Markets shares last traded at $85.49, with a volume of 84,943 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ingles Markets in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, Ingles Markets has a consensus rating of “Buy”.

Ingles Markets Trading Down 2.1%

The firm has a market capitalization of $1.62 billion, a P/E ratio of 15.63 and a beta of 0.57. The company has a 50 day simple moving average of $84.35 and a two-hundred day simple moving average of $85.97.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.36 earnings per share (EPS) for the quarter. The company had revenue of $1.37 billion for the quarter.

Ingles Markets Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 8th were paid a dividend of $0.1650 per share. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 8th. Ingles Markets’s dividend payout ratio (DPR) is presently 12.07%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IMKTA. Signaturefd LLC grew its position in shares of Ingles Markets by 82.0% during the third quarter. Signaturefd LLC now owns 2,160 shares of the company’s stock valued at $183,000 after purchasing an additional 973 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of Ingles Markets in the third quarter worth about $223,000. Nisa Investment Advisors LLC increased its holdings in shares of Ingles Markets by 31.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,642 shares of the company’s stock worth $139,000 after purchasing an additional 397 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Ingles Markets by 21.5% in the third quarter. State of Alaska Department of Revenue now owns 678 shares of the company’s stock worth $57,000 after purchasing an additional 120 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Ingles Markets by 11.3% in the second quarter. Tidal Investments LLC now owns 58,941 shares of the company’s stock worth $5,221,000 after buying an additional 5,965 shares in the last quarter. Institutional investors own 62.54% of the company’s stock.

Ingles Markets Company Profile

Ingles Markets, Inc operates a regional chain of supermarkets serving communities primarily across the southeastern United States. Its stores offer a broad selection of groceries, including fresh produce, meat, seafood, bakery and deli items, packaged foods, beverages, and health and household products.

The company also operates in-store pharmacies and fuel centers at many locations. Through its distribution and dairy operations, Ingles supports the supply of products to its supermarkets, including milk and other dairy products processed by its Milkco subsidiary.

Founded in 1963 by Robert P.