Ingles Markets (NASDAQ:IMKTA) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Ingles Markets, Incorporated (NASDAQ:IMKTA) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $65.08 and traded as high as $74.26. Ingles Markets shares last traded at $73.50, with a volume of 59,737 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Ingles Markets in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Ingles Markets currently has an average rating of “Hold”.

Ingles Markets Price Performance

The company has a current ratio of 3.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.40 billion, a PE ratio of 24.75 and a beta of 0.75. The firm has a 50 day moving average of $68.95 and a two-hundred day moving average of $65.08.

Ingles Markets (NASDAQ:IMKTA) last issued its earnings results on Thursday, August 7th. The company reported $1.38 EPS for the quarter. Ingles Markets had a return on equity of 3.60% and a net margin of 1.05%.

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 dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Ingles Markets’s dividend payout ratio (DPR) is currently 22.22%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brandes Investment Partners LP boosted its position in shares of Ingles Markets by 16.5% during the second quarter. Brandes Investment Partners LP now owns 948,627 shares of the company’s stock valued at $60,124,000 after buying an additional 134,398 shares during the period. Brandywine Global Investment Management LLC bought a new position in Ingles Markets in the second quarter worth approximately $4,027,000. Charles Schwab Investment Management Inc. raised its stake in Ingles Markets by 9.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 497,217 shares of the company’s stock worth $32,384,000 after buying an additional 43,659 shares in the last quarter. Gate City Capital Management LLC bought a new position in Ingles Markets in the second quarter worth approximately $2,724,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Ingles Markets by 122.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 72,964 shares of the company’s stock worth $4,819,000 after purchasing an additional 40,164 shares in the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

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.