Ingles Markets (NASDAQ:IMKTA) Sets New 1-Year High – Here’s Why

Ingles Markets, Incorporated (NASDAQ:IMKTA) shares hit a new 52-week high on Thursday . The stock traded as high as $78.59 and last traded at $77.29, with a volume of 103818 shares. The stock had previously closed at $77.01.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Ingles Markets in a research report on Tuesday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Ingles Markets Stock Up 0.4%

The firm has a market capitalization of $1.47 billion, a PE ratio of 26.02 and a beta of 0.74. The firm’s 50-day moving average is $72.13 and its 200 day moving average is $67.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.53 and a current ratio of 3.14.

Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Wednesday, November 26th. The company reported $1.35 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.05% and a return on equity of 3.60%.

Ingles Markets Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Thursday, October 9th were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Ingles Markets’s dividend payout ratio is presently 22.22%.

Hedge Funds Weigh In On Ingles Markets

A number of institutional investors have recently made changes to their positions in the stock. Huntington National Bank lifted its position in shares of Ingles Markets by 45,500.0% in the second quarter. Huntington National Bank now owns 456 shares of the company’s stock valued at $29,000 after acquiring an additional 455 shares in the last quarter. Signaturefd LLC raised its stake in Ingles Markets by 82.5% in the 2nd quarter. Signaturefd LLC now owns 522 shares of the company’s stock valued at $33,000 after purchasing an additional 236 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Ingles Markets in the 3rd quarter valued at about $38,000. First Horizon Advisors Inc. boosted its stake in shares of Ingles Markets by 192.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 632 shares of the company’s stock worth $40,000 after purchasing an additional 416 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new stake in shares of Ingles Markets during the third quarter worth about $70,000. 62.54% of the stock is owned by institutional investors and hedge funds.

Ingles Markets Company Profile

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.