Wall Street Zen lowered shares of Ingles Markets (NASDAQ:IMKTA – Free Report) from a strong-buy rating to a buy rating in a report issued on Saturday.
Separately, Weiss Ratings upgraded Ingles Markets from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.
Get Our Latest Stock Analysis on IMKTA
Ingles Markets Stock Performance
Ingles Markets (NASDAQ:IMKTA – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter. The business had revenue of $1.31 billion during the quarter. Ingles Markets had a return on equity of 6.41% and a net margin of 1.93%.
Ingles Markets Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. Ingles Markets’s payout ratio is currently 12.02%.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ingles Markets by 3.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company’s stock worth $272,000 after acquiring an additional 144 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Ingles Markets by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,966 shares of the company’s stock worth $446,000 after acquiring an additional 157 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Ingles Markets by 14.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock worth $109,000 after acquiring an additional 197 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Ingles Markets by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock worth $327,000 after acquiring an additional 209 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Ingles Markets by 4.0% during the 4th quarter. Ballentine Partners LLC now owns 5,643 shares of the company’s stock worth $387,000 after acquiring an additional 217 shares in the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.
About Ingles Markets
Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.
In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.
Featured Stories
- Five stocks we like better than Ingles Markets
- 3 Stocks to Own If Gas Prices Keep Rising
- 3 Crucial Aerospace Component Makers That Analysts Love
- Alphabet’s Googlebook Brings Gemini AI to PC Hardware
- Peloton Stock Gives Back Gains After Upbeat Earnings Report
Receive News & Ratings for Ingles Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingles Markets and related companies with MarketBeat.com's FREE daily email newsletter.
