Ingles Markets (NASDAQ:IMKTA) Announces Earnings Results

Ingles Markets (NASDAQ:IMKTAGet Free Report) announced its quarterly earnings data on Thursday. The company reported $2.28 earnings per share (EPS) for the quarter, reports. Ingles Markets had a net margin of 3.14% and a return on equity of 13.12%. The business had revenue of $1.48 billion during the quarter.

Ingles Markets Stock Down 4.2 %

NASDAQ:IMKTA opened at $78.38 on Friday. Ingles Markets has a twelve month low of $73.38 and a twelve month high of $95.98. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 8.06 and a beta of 0.64. The stock has a fifty day simple moving average of $84.85 and a 200-day simple moving average of $81.51. The company has a current ratio of 2.88, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Ingles Markets Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, January 12th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $0.66 annualized dividend and a dividend yield of 0.84%. Ingles Markets’s dividend payout ratio (DPR) is 6.79%.

Hedge Funds Weigh In On Ingles Markets

Several institutional investors have recently made changes to their positions in IMKTA. Advisor Group Holdings Inc. increased its stake in shares of Ingles Markets by 16.2% during the first quarter. Advisor Group Holdings Inc. now owns 1,852 shares of the company’s stock valued at $166,000 after buying an additional 258 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Ingles Markets by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 128,661 shares of the company’s stock valued at $11,456,000 after buying an additional 2,344 shares during the period. US Bancorp DE increased its stake in shares of Ingles Markets by 13.3% during the first quarter. US Bancorp DE now owns 3,093 shares of the company’s stock valued at $275,000 after buying an additional 362 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Ingles Markets by 278.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,930 shares of the company’s stock valued at $171,000 after buying an additional 1,420 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Ingles Markets by 58.0% during the first quarter. MetLife Investment Management LLC now owns 7,760 shares of the company’s stock valued at $691,000 after buying an additional 2,849 shares during the period. Hedge funds and other institutional investors own 62.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Friday.

Read Our Latest Report on IMKTA

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.

See Also

Earnings History for Ingles Markets (NASDAQ:IMKTA)

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