A number of other research firms have also weighed in on IMKTA. ValuEngine raised Ingles Markets from a strong sell rating to a sell rating in a research report on Tuesday, July 9th. Zacks Investment Research upgraded Ingles Markets from a hold rating to a strong-buy rating and set a $39.00 price target on the stock in a research note on Wednesday, August 14th.
Shares of IMKTA stock opened at $39.46 on Tuesday. The stock has a market capitalization of $832.65 million, a PE ratio of 8.20, a P/E/G ratio of 0.73 and a beta of 0.37. Ingles Markets has a 1-year low of $25.57 and a 1-year high of $43.65. The business has a 50-day moving average of $36.87 and a 200 day moving average of $31.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.06 and a quick ratio of 0.47.
In other Ingles Markets news, Director Sharp Laura Ingle sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $31.06, for a total transaction of $155,300.00. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $465,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 11,288 shares of company stock worth $412,084 over the last ninety days. Insiders own 29.50% of the company’s stock.
Several large investors have recently made changes to their positions in the business. UBS Asset Management Americas Inc. purchased a new stake in shares of Ingles Markets in the second quarter valued at approximately $205,000. Jefferies Group LLC increased its position in shares of Ingles Markets by 30.8% during the second quarter. Jefferies Group LLC now owns 11,519 shares of the company’s stock worth $359,000 after purchasing an additional 2,710 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of Ingles Markets during the second quarter worth $212,000. Man Group plc acquired a new position in shares of Ingles Markets during the second quarter worth $305,000. Finally, Zebra Capital Management LLC acquired a new position in shares of Ingles Markets in the 2nd quarter valued at $293,000. Institutional investors and hedge funds own 65.03% of the company’s stock.
Ingles Markets Company Profile
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.
Further Reading: Diluted Earnings Per Share
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