Short Interest in Ingles Markets, Incorporated (NASDAQ:IMKTA) Expands By 5.6%

Ingles Markets, Incorporated (NASDAQ:IMKTA) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 304,000 shares, a growth of 5.6% from the March 15th total of 288,000 shares. Based on an average daily volume of 82,800 shares, the days-to-cover ratio is currently 3.7 days.

Wall Street Analysts Forecast Growth

Several analysts have commented on IMKTA shares. TheStreet lowered shares of Ingles Markets from a “b” rating to a “c+” rating in a research report on Monday, February 26th. StockNews.com lowered shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 9th.

Ingles Markets Trading Down 0.1 %

Ingles Markets stock opened at $73.27 on Wednesday. The stock has a market cap of $1.39 billion, a P/E ratio of 7.54 and a beta of 0.60. Ingles Markets has a fifty-two week low of $72.72 and a fifty-two week high of $94.68. The firm’s fifty day moving average price is $76.06 and its 200-day moving average price is $80.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.45 and a current ratio of 3.22.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings data on Thursday, February 8th. The company reported $2.28 EPS for the quarter. The company had revenue of $1.48 billion during the quarter. Ingles Markets had a return on equity of 12.92% and a net margin of 3.14%.

Ingles Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Thursday, April 11th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Wednesday, April 10th. Ingles Markets’s payout ratio is currently 6.79%.

Insider Buying and Selling at Ingles Markets

In other news, Director Sharp Laura Ingle sold 2,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $76.00, for a total value of $152,000.00. Following the completion of the transaction, the director now owns 24,700 shares of the company’s stock, valued at $1,877,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 8,000 shares of company stock valued at $607,000 in the last quarter. 23.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ingles Markets

Large investors have recently modified their holdings of the company. Ensign Peak Advisors Inc purchased a new position in shares of Ingles Markets during the third quarter worth approximately $35,000. Osaic Holdings Inc. lifted its stake in Ingles Markets by 53.0% in the second quarter. Osaic Holdings Inc. now owns 439 shares of the company’s stock worth $36,000 after purchasing an additional 152 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Ingles Markets during the first quarter valued at about $45,000. Quadrant Capital Group LLC grew its stake in shares of Ingles Markets by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock valued at $63,000 after buying an additional 170 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Ingles Markets by 717.0% in the first quarter. Quantbot Technologies LP now owns 817 shares of the company’s stock worth $72,000 after buying an additional 717 shares during the period. 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.