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

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $55.00 and last traded at $61.61, with a volume of 742 shares traded. The stock had previously closed at $62.12.

Analyst Ratings Changes

Separately, StockNews.com downgraded Ingles Markets from a “buy” rating to a “hold” rating in a report on Monday, February 10th.

Ingles Markets Stock Down 0.3 %

The firm has a market capitalization of $1.18 billion, a PE ratio of 14.95 and a beta of 0.75. The company’s fifty day simple moving average is $63.85 and its 200 day simple moving average is $66.01. The company has a quick ratio of 1.45, a current ratio of 3.24 and a debt-to-equity ratio of 0.33.

Ingles Markets (NASDAQ:IMKTA) last released its earnings results on Thursday, February 6th. The company reported $0.87 earnings per share for the quarter. Ingles Markets had a net margin of 1.45% and a return on equity of 5.09%.

Ingles Markets Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 10th will be given a $0.165 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.07%. Ingles Markets’s dividend payout ratio is currently 15.94%.

Institutional Investors Weigh In On Ingles Markets

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Ingles Markets by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,234,699 shares of the company’s stock valued at $79,564,000 after buying an additional 7,541 shares during the last quarter. River Road Asset Management LLC boosted its stake in Ingles Markets by 0.6% during the 4th quarter. River Road Asset Management LLC now owns 976,424 shares of the company’s stock valued at $62,921,000 after purchasing an additional 5,398 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of Ingles Markets by 42.4% in the 4th quarter. Brandes Investment Partners LP now owns 533,982 shares of the company’s stock worth $34,410,000 after purchasing an additional 159,097 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Ingles Markets by 11.2% in the 4th quarter. American Century Companies Inc. now owns 475,894 shares of the company’s stock worth $30,667,000 after purchasing an additional 47,859 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Ingles Markets by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,558 shares of the company’s stock worth $29,227,000 after purchasing an additional 48,000 shares during the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.

About Ingles Markets

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.