Sharp Laura Ingle Sells 500 Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) Stock

Ingles Markets, Incorporated (NASDAQ:IMKTAGet Rating) Director Sharp Laura Ingle sold 500 shares of the stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $89.25, for a total transaction of $44,625.00. Following the sale, the director now owns 6,000 shares of the company’s stock, valued at $535,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

IMKTA traded down $3.54 on Friday, hitting $85.66. The company had a trading volume of 2,496 shares, compared to its average volume of 99,012. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.44 and a quick ratio of 1.05. Ingles Markets, Incorporated has a 52-week low of $56.95 and a 52-week high of $101.98. The stock has a fifty day simple moving average of $91.89 and a 200-day simple moving average of $87.37. The firm has a market capitalization of $1.63 billion, a P/E ratio of 6.00 and a beta of 0.52.

Ingles Markets (NASDAQ:IMKTAGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $3.61 EPS for the quarter. Ingles Markets had a net margin of 5.18% and a return on equity of 27.49%. The business had revenue of $1.38 billion during the quarter.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, April 7th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Wednesday, April 6th. Ingles Markets’s dividend payout ratio (DPR) is currently 4.50%.

Several institutional investors and hedge funds have recently made changes to their positions in IMKTA. FinTrust Capital Advisors LLC bought a new stake in Ingles Markets in the 1st quarter worth approximately $27,000. Penserra Capital Management LLC bought a new stake in Ingles Markets in the 1st quarter worth approximately $45,000. AdvisorNet Financial Inc grew its position in Ingles Markets by 137.9% in the 1st quarter. AdvisorNet Financial Inc now owns 690 shares of the company’s stock worth $61,000 after purchasing an additional 400 shares during the period. Quantbot Technologies LP grew its position in Ingles Markets by 717.0% in the 1st quarter. Quantbot Technologies LP now owns 817 shares of the company’s stock worth $72,000 after purchasing an additional 717 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in Ingles Markets in the 4th quarter worth approximately $88,000. 65.29% of the stock is owned by institutional investors.

Separately, StockNews.com initiated coverage on shares of Ingles Markets in a report on Thursday, March 31st. They set a “strong-buy” rating for the company.

Ingles Markets Company Profile (Get Rating)

Ingles Markets, Incorporated 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.

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