Dwight Jacobs Purchases 500 Shares of Ingles Markets (NASDAQ:IMKTA) Stock

Ingles Markets, Incorporated (NASDAQ:IMKTA) Director Dwight Jacobs acquired 500 shares of Ingles Markets stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $88.07 per share, with a total value of $44,035.00. Following the acquisition, the director directly owned 500 shares of the company’s stock, valued at approximately $44,035. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ingles Markets Price Performance

IMKTA stock traded up $0.85 during trading on Thursday, hitting $87.36. The company had a trading volume of 184,504 shares, compared to its average volume of 137,717. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 15.91 and a beta of 0.62. The business has a 50 day moving average of $88.54 and a 200 day moving average of $80.50. Ingles Markets, Incorporated has a fifty-two week low of $59.09 and a fifty-two week high of $95.62. The company has a current ratio of 3.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.29.

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

Ingles Markets Announces Dividend

The firm 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 annualized dividend and a yield of 0.8%. Ingles Markets’s payout ratio is 12.02%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IMKTA. Wall Street Zen cut shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. 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. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Institutional Trading of Ingles Markets

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Ingles Markets by 3.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company’s stock worth $272,000 after buying an additional 144 shares during the period. PNC Financial Services Group Inc. raised its holdings in Ingles Markets by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,966 shares of the company’s stock worth $446,000 after buying an additional 157 shares during the period. Parallel Advisors LLC raised its holdings in Ingles Markets by 14.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock worth $109,000 after buying an additional 197 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Ingles Markets by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock worth $327,000 after buying an additional 209 shares during the period. Finally, Ballentine Partners LLC raised its holdings in Ingles Markets by 4.0% during the 4th quarter. Ballentine Partners LLC now owns 5,643 shares of the company’s stock worth $387,000 after buying an additional 217 shares during the period. Institutional investors and hedge funds own 62.54% of the company’s stock.

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.