Ingles Markets Inc. (NASDAQ:IMKTA) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Zacks has also given Ingles Markets an industry rank of 221 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded shares of Ingles Markets from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th.
Ingles Markets (NASDAQ:IMKTA) opened at 41.05 on Wednesday. The stock has a market cap of $831.63 million, a P/E ratio of 14.79 and a beta of 0.68. Ingles Markets has a 52 week low of $31.77 and a 52 week high of $57.68. The company’s 50 day moving average is $39.51 and its 200 day moving average is $38.19.
The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Thursday, October 6th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Tuesday, October 4th. Ingles Markets’s dividend payout ratio is currently 23.74%.
Hedge funds have recently bought and sold shares of the company. Omni Partners LLP bought a new stake in Ingles Markets during the second quarter valued at approximately $301,000. LSV Asset Management boosted its stake in Ingles Markets by 47.2% in the second quarter. LSV Asset Management now owns 1,089,972 shares of the company’s stock worth $40,655,000 after buying an additional 349,721 shares during the period. River Road Asset Management LLC boosted its stake in Ingles Markets by 16.4% in the third quarter. River Road Asset Management LLC now owns 1,080,241 shares of the company’s stock worth $42,713,000 after buying an additional 152,194 shares during the period. Allianz Asset Management AG boosted its stake in Ingles Markets by 20.4% in the second quarter. Allianz Asset Management AG now owns 780,883 shares of the company’s stock worth $29,127,000 after buying an additional 132,397 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Ingles Markets by 2.6% in the second quarter. Vanguard Group Inc. now owns 1,118,436 shares of the company’s stock worth $41,718,000 after buying an additional 28,431 shares during the period. Institutional investors and hedge funds own 61.59% of the company’s stock.
About Ingles Markets
Ingles Markets, Incorporated is a supermarket chain. The Company operates approximately 70 supermarkets in Georgia, approximately 70 in North Carolina, approximately 40 in South Carolina, over 20 in Tennessee, approximately two in Virginia and approximately one in Alabama. The Company operates through retail grocery sales segment.