Ingles Markets, Incorporated (NASDAQ:IMKTA) Short Interest Down 5.9% in August

Ingles Markets, Incorporated (NASDAQ:IMKTA) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 431,700 shares, a decrease of 5.9% from the August 15th total of 459,000 shares. Based on an average daily trading volume, of 89,000 shares, the days-to-cover ratio is presently 4.9 days.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th.

Ingles Markets Price Performance

Shares of NASDAQ:IMKTA opened at $73.50 on Friday. The company has a market capitalization of $1.40 billion, a P/E ratio of 7.93 and a beta of 0.70. The company’s 50-day moving average is $74.28 and its 200 day moving average is $73.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. Ingles Markets has a fifty-two week low of $67.10 and a fifty-two week high of $89.59.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.67 EPS for the quarter. Ingles Markets had a net margin of 2.74% and a return on equity of 10.58%. The business had revenue of $1.39 billion for the quarter.

Ingles Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Thursday, July 11th were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.66 annualized dividend and a yield of 0.90%. Ingles Markets’s payout ratio is 7.12%.

Insider Buying and Selling

In other news, Director Sharp Laura Ingle sold 5,901 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $68.02, for a total value of $401,386.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingles Markets

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC increased its stake in shares of Ingles Markets by 240.9% in the second quarter. CWM LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 306 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Ingles Markets by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock worth $63,000 after buying an additional 170 shares during the period. Quest Partners LLC purchased a new position in Ingles Markets in the 4th quarter valued at approximately $78,000. Canada Pension Plan Investment Board bought a new stake in Ingles Markets during the 2nd quarter valued at $69,000. Finally, Signaturefd LLC lifted its position in shares of Ingles Markets by 101.0% during the second quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock worth $69,000 after acquiring an additional 504 shares in the last quarter. 62.54% of the stock is owned by 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.