Ingles Markets (NASDAQ:IMKTA) Hits New 52-Week Low – Should You Sell?

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $59.53 and last traded at $59.58, with a volume of 6825 shares. The stock had previously closed at $60.24.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Ingles Markets from a “buy” rating to a “hold” rating in a research report on Monday, February 10th.

Ingles Markets Price Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 3.24. The firm has a market capitalization of $1.14 billion, a P/E ratio of 14.40 and a beta of 0.75. The business has a fifty day moving average of $64.50 and a 200-day moving average of $67.62.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Announces Dividend

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 was Friday, January 10th. This represents a $0.66 annualized dividend and a yield of 1.10%. Ingles Markets’s payout ratio is 15.94%.

Institutional Investors Weigh In On Ingles Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMKTA. Meeder Asset Management Inc. bought a new stake in Ingles Markets in the fourth quarter worth about $30,000. Sterling Capital Management LLC grew its stake in shares of Ingles Markets by 811.8% in the 4th quarter. Sterling Capital Management LLC now owns 465 shares of the company’s stock worth $30,000 after purchasing an additional 414 shares during the last quarter. Anchor Investment Management LLC bought a new stake in shares of Ingles Markets in the 4th quarter worth approximately $64,000. Tower Research Capital LLC TRC lifted its stake in Ingles Markets by 296.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,252 shares of the company’s stock valued at $81,000 after purchasing an additional 936 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Ingles Markets during the fourth quarter worth approximately $96,000. Institutional investors own 62.54% of the company’s stock.

Ingles Markets Company Profile

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.