Short Interest in Ingles Markets, Incorporated (NASDAQ:IMKTA) Increases By 7.6%

Ingles Markets, Incorporated (NASDAQ:IMKTAGet Free Report) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 727,200 shares, an increase of 7.6% from the December 15th total of 675,600 shares. Based on an average trading volume of 140,600 shares, the days-to-cover ratio is presently 5.2 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Ingles Markets from a “hold” rating to a “buy” rating in a research report on Monday, December 30th.

View Our Latest Stock Analysis on IMKTA

Institutional Trading of Ingles Markets

Several hedge funds have recently modified their holdings of IMKTA. GAMMA Investing LLC boosted its holdings in shares of Ingles Markets by 413.9% in the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $30,000 after buying an additional 327 shares during the last quarter. CWM LLC lifted its holdings in Ingles Markets by 75.5% during the third quarter. CWM LLC now owns 760 shares of the company’s stock valued at $57,000 after purchasing an additional 327 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Ingles Markets during the second quarter valued at about $69,000. FNY Investment Advisers LLC purchased a new stake in Ingles Markets during the fourth quarter valued at about $96,000. Finally, Caprock Group LLC purchased a new stake in Ingles Markets during the third quarter valued at about $203,000. Institutional investors own 62.54% of the company’s stock.

Ingles Markets Price Performance

Shares of IMKTA traded down $1.23 during mid-day trading on Friday, reaching $63.07. The company had a trading volume of 103,594 shares, compared to its average volume of 123,748. The company’s 50 day simple moving average is $68.23 and its 200 day simple moving average is $69.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 2.89. Ingles Markets has a 1-year low of $59.73 and a 1-year high of $86.16. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 11.36 and a beta of 0.76.

Ingles Markets (NASDAQ:IMKTAGet Free Report) last issued its quarterly earnings results on Friday, December 27th. The company reported ($0.08) earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 6.90% and a net margin of 1.87%.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a $0.165 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.66 annualized dividend and a dividend yield of 1.05%. Ingles Markets’s dividend payout ratio is currently 11.89%.

About Ingles Markets

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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.

Further Reading

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