Ingles (IMKTA) Receives Consensus Recommendation of “Strong Buy” from Analysts

Ingles (NASDAQ:IMKTA) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Zacks has also assigned Ingles an industry rank of 162 out of 265 based on the ratings given to related companies.

IMKTA has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Ingles from a “hold” rating to a “buy” rating in a research report on Tuesday, March 6th. Zacks Investment Research cut shares of Ingles from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, TheStreet cut shares of Ingles from a “b-” rating to a “c+” rating in a research report on Friday, May 11th.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new stake in Ingles during the 1st quarter worth approximately $1,235,000. Citigroup Inc. grew its holdings in Ingles by 73.4% during the 1st quarter. Citigroup Inc. now owns 4,758 shares of the company’s stock worth $161,000 after acquiring an additional 2,014 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ingles by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,195,232 shares of the company’s stock valued at $40,459,000 after purchasing an additional 7,115 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Ingles by 87.5% in the 1st quarter. New York State Common Retirement Fund now owns 29,623 shares of the company’s stock valued at $1,003,000 after purchasing an additional 13,823 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Ingles by 29.0% in the 1st quarter. JPMorgan Chase & Co. now owns 178,182 shares of the company’s stock valued at $6,032,000 after purchasing an additional 40,065 shares during the last quarter. 61.24% of the stock is currently owned by hedge funds and other institutional investors.

Ingles traded up $0.50, reaching $29.95, during trading on Friday, MarketBeat.com reports. 126,200 shares of the company were exchanged, compared to its average volume of 111,132. The stock has a market cap of $578.39 million, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.03 and a beta of 0.58. Ingles has a twelve month low of $28.55 and a twelve month high of $29.25. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.81 and a quick ratio of 0.38.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 19th. Shareholders of record on Thursday, April 12th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Wednesday, April 11th. Ingles’s payout ratio is 24.81%.

Ingles Company Profile

Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.

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