Ingles Markets (IMKTA) Lowered to Sell at BidaskClub

BidaskClub lowered shares of Ingles Markets (NASDAQ:IMKTA) from a hold rating to a sell rating in a research note released on Tuesday morning.

Several other brokerages also recently issued reports on IMKTA. ValuEngine raised shares of Ingles Markets from a strong sell rating to a sell rating in a report on Tuesday, July 31st. Zacks Investment Research raised shares of Ingles Markets from a sell rating to a hold rating in a report on Monday, September 3rd.

Shares of IMKTA opened at $29.94 on Tuesday. Ingles Markets has a 1 year low of $24.45 and a 1 year high of $37.65. The firm has a market cap of $606.55 million, a PE ratio of 11.26, a PEG ratio of 0.98 and a beta of 0.50. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.96 and a quick ratio of 0.50.

Several hedge funds and other institutional investors have recently modified their holdings of IMKTA. Teachers Advisors LLC raised its position in Ingles Markets by 10.1% in the third quarter. Teachers Advisors LLC now owns 28,838 shares of the company’s stock worth $988,000 after acquiring an additional 2,636 shares in the last quarter. AQR Capital Management LLC raised its position in Ingles Markets by 105.7% in the third quarter. AQR Capital Management LLC now owns 88,906 shares of the company’s stock worth $3,045,000 after acquiring an additional 45,679 shares in the last quarter. MetLife Investment Advisors LLC raised its position in Ingles Markets by 57.8% in the third quarter. MetLife Investment Advisors LLC now owns 9,741 shares of the company’s stock worth $334,000 after acquiring an additional 3,568 shares in the last quarter. JPMorgan Chase & Co. raised its position in Ingles Markets by 8.1% in the third quarter. JPMorgan Chase & Co. now owns 109,197 shares of the company’s stock worth $3,740,000 after acquiring an additional 8,214 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in Ingles Markets by 106.1% in the third quarter. Allianz Asset Management GmbH now owns 90,885 shares of the company’s stock worth $3,113,000 after acquiring an additional 46,792 shares in the last quarter. Institutional investors and hedge funds own 63.17% of the company’s stock.

About Ingles Markets

Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.

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