Ingles Markets (NASDAQ:IMKTA) Lowered to “Buy” at StockNews.com

Ingles Markets (NASDAQ:IMKTA) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Ingles Markets Price Performance

Shares of IMKTA opened at $73.04 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. The company has a 50 day moving average price of $74.26 and a 200-day moving average price of $73.24. Ingles Markets has a fifty-two week low of $67.10 and a fifty-two week high of $89.59. The stock has a market capitalization of $1.39 billion, a PE ratio of 7.88 and a beta of 0.70.

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

Insider Activity

In other Ingles Markets news, Director Sharp Laura Ingle sold 4,799 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $70.38, for a total transaction of $337,753.62. Following the sale, the director now owns 5,901 shares in the company, valued at approximately $415,312.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Ingles Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMKTA. Quadrant Capital Group LLC increased its holdings in shares of Ingles Markets by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock valued at $63,000 after purchasing an additional 170 shares in the last quarter. Baker Ellis Asset Management LLC increased its holdings in Ingles Markets by 0.3% in the second quarter. Baker Ellis Asset Management LLC now owns 55,641 shares of the company’s stock valued at $3,818,000 after buying an additional 181 shares in the last quarter. CWM LLC raised its position 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 acquiring an additional 306 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Ingles Markets by 11.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,183 shares of the company’s stock worth $275,000 after acquiring an additional 330 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Ingles Markets by 12.1% during the 2nd quarter. Sei Investments Co. now owns 3,844 shares of the company’s stock valued at $264,000 after acquiring an additional 416 shares during the period. 62.54% of the stock is owned by institutional investors and hedge funds.

Ingles Markets Company Profile

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.