Ingles Markets, Incorporated Declares Quarterly Dividend of $0.17 (NASDAQ:IMKTA)

Ingles Markets, Incorporated (NASDAQ:IMKTA - Get Free Report) announced a quarterly dividend on Monday, June 30th, Wall Street Journal reports. Stockholders of record on Thursday, July 10th will be given a dividend of 0.165 per share on Thursday, July 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, July 10th.

Ingles Markets Stock Performance

NASDAQ IMKTA traded down $0.44 on Friday, reaching $66.32. 49,320 shares of the company's stock traded hands, compared to its average volume of 124,331. Ingles Markets has a fifty-two week low of $58.92 and a fifty-two week high of $82.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.46 and a current ratio of 3.19. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 20.34 and a beta of 0.71. The stock has a 50 day moving average price of $61.95 and a 200-day moving average price of $63.27.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.80 earnings per share for the quarter. Ingles Markets had a return on equity of 3.98% and a net margin of 1.14%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IMKTA. Jane Street Group LLC boosted its position in shares of Ingles Markets by 275.9% during the 1st quarter. Jane Street Group LLC now owns 30,644 shares of the company's stock valued at $1,996,000 after acquiring an additional 22,492 shares during the last quarter. Royal Bank of Canada increased its position in Ingles Markets by 15.4% during the first quarter. Royal Bank of Canada now owns 19,083 shares of the company's stock worth $1,243,000 after purchasing an additional 2,544 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ingles Markets by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,617 shares of the company's stock worth $561,000 after purchasing an additional 385 shares during the period. 62.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Ingles Markets from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

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.