Ingles Markets, Incorporated (NASDAQ:IMKTA) Short Interest Update

Ingles Markets, Incorporated (NASDAQ:IMKTA) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 727,200 shares, a growth of 7.6% from the December 15th total of 675,600 shares. Based on an average daily trading volume, of 140,600 shares, the short-interest ratio is presently 5.2 days.

Ingles Markets Price Performance

NASDAQ IMKTA opened at $63.07 on Monday. Ingles Markets has a one year low of $59.73 and a one year high of $86.16. The stock has a 50-day moving average of $68.23 and a 200 day moving average of $69.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 2.89. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 11.36 and a beta of 0.76.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Friday, December 27th. The company reported ($0.08) EPS for the quarter. Ingles Markets had a return on equity of 6.90% and a net margin of 1.87%.

Ingles Markets Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.66 dividend on an annualized basis and a yield of 1.05%. Ingles Markets’s dividend payout ratio is presently 11.89%.

Hedge Funds Weigh In On Ingles Markets

Institutional investors and hedge funds have recently modified their holdings of the company. Brandes Investment Partners LP raised its position in Ingles Markets by 111.0% in the second quarter. Brandes Investment Partners LP now owns 196,753 shares of the company’s stock worth $13,480,000 after acquiring an additional 103,507 shares during the period. Systematic Financial Management LP increased its stake in shares of Ingles Markets by 103.1% in the 2nd quarter. Systematic Financial Management LP now owns 181,564 shares of the company’s stock worth $12,457,000 after purchasing an additional 92,164 shares in the last quarter. River Road Asset Management LLC raised its holdings in Ingles Markets by 7.1% in the 3rd quarter. River Road Asset Management LLC now owns 971,026 shares of the company’s stock worth $72,439,000 after purchasing an additional 64,296 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Ingles Markets by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 405,558 shares of the company’s stock valued at $30,255,000 after purchasing an additional 31,027 shares in the last quarter. Finally, Factorial Partners LLC bought a new stake in Ingles Markets during the third quarter valued at about $1,895,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Ingles Markets from a “hold” rating to a “buy” rating in a research report on Monday, December 30th.

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.