Ingles Markets (NASDAQ:IMKTA) Posts Earnings Results
Ingles Markets reported quarterly earnings of $1.35 per share, with a return on equity of 3.60% and a net margin of 1.05%. The company declared a quarterly dividend of $0.165 per share. Institutional investors have adjusted their positions, with hedge funds owning 62.54% of the stock. Analysts have given the stock a consensus 'Hold' rating.
Ingles Markets (NASDAQ:IMKTA - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $1.35 earnings per share (EPS) for the quarter, Zacks reports. Ingles Markets had a return on equity of 3.60% and a net margin of 1.05%.
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Ingles Markets Price Performance
- Albertsons Companies Can’t Be Any More Attractive Than It Is
Shares of NASDAQ:IMKTA opened at $77.27 on Wednesday. The company has a market capitalization of $1.47 billion, a PE ratio of 26.02 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.53 and a current ratio of 3.14. The stock has a fifty day moving average of $71.99 and a 200-day moving average of $67.09. Ingles Markets has a one year low of $58.92 and a one year high of $78.59.
Ingles Markets Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, October 9th. Ingles Markets's dividend payout ratio is presently 22.22%.
Institutional Trading of Ingles Markets
Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in Ingles Markets by 14.4% in the third quarter. Parallel Advisors LLC now owns 1,561 shares of the company's stock valued at $109,000 after purchasing an additional 197 shares in the last quarter. Ancora Advisors LLC bought a new position in Ingles Markets in the 3rd quarter worth $125,000. Russell Investments Group Ltd. increased its stake in shares of Ingles Markets by 19.2% in the second quarter. Russell Investments Group Ltd. now owns 3,155 shares of the company's stock worth $200,000 after purchasing an additional 509 shares during the period. First Trust Advisors LP bought a new position in Ingles Markets in the 3rd quarter worth approximately $217,000. Finally, Cetera Investment Advisers raised its stake in Ingles Markets by 17.3% during the 2nd quarter. Cetera Investment Advisers now owns 4,351 shares of the company's stock valued at $276,000 after purchasing an additional 641 shares during the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Ingles Markets in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Ingles Markets has a consensus rating of "Hold".
Read Our Latest Stock Report on IMKTA
About Ingles Markets
(Get Free Report)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.
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