Ingles Markets (NASDAQ:IMKTA) Hits New 12-Month Low – Time to Sell?

Ingles Markets, Incorporated (NASDAQ:IMKTA) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $66.78 and last traded at $66.79, with a volume of 116987 shares changing hands. The stock had previously closed at $69.31.

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 Saturday, September 21st.

Ingles Markets Stock Up 1.4 %

The company has a current ratio of 2.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of $73.34 and a 200 day simple moving average of $72.96. The firm has a market capitalization of $1.21 billion, a PE ratio of 6.91 and a beta of 0.70.

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

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, October 10th. Ingles Markets’s payout ratio is currently 7.12%.

Institutional Trading of Ingles Markets

Large investors have recently bought and sold shares of the company. Baker Ellis Asset Management LLC increased its stake in shares of Ingles Markets by 0.3% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 55,641 shares of the company’s stock worth $3,818,000 after acquiring an additional 181 shares in the last quarter. CWM LLC lifted its holdings in shares of Ingles Markets by 240.9% during the second quarter. CWM LLC now owns 433 shares of the company’s stock valued at $30,000 after purchasing an additional 306 shares during the last quarter. Sei Investments Co. boosted its position in shares of Ingles Markets by 12.1% in the 2nd quarter. Sei Investments Co. now owns 3,844 shares of the company’s stock worth $264,000 after purchasing an additional 416 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Ingles Markets by 9.5% in the 2nd quarter. Inspire Investing LLC now owns 5,170 shares of the company’s stock worth $355,000 after buying an additional 447 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Ingles Markets by 18.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,116 shares of the company’s stock valued at $214,000 after buying an additional 484 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.