Ingles Markets (NASDAQ:IMKTA) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Ingles Markets' share price has recently crossed above its 200-day moving average of $65.08, reaching a peak of $74.26 before settling at $73.50.
• Wall Street analysts have given Ingles Markets a "hold" rating with an average rating also reflecting a cautious stance on the stock.
• The company announced a quarterly dividend of $0.165 per share, resulting in a dividend yield of 0.9% and a payout ratio of 22.22%.

Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $65.08 and traded as high as $74.26. Ingles Markets shares last traded at $73.50, with a volume of 59,737 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ingles Markets in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold".

Ingles Markets Price Performance

The firm has a market cap of $1.40 billion, a P/E ratio of 24.75 and a beta of 0.75. The company has a fifty day moving average price of $68.95 and a two-hundred day moving average price of $65.08. The company has a current ratio of 3.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.32.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.38 EPS for the quarter. Ingles Markets had a return on equity of 3.60% and a net margin of 1.05%.

Ingles Markets Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, October 9th. Ingles Markets's dividend payout ratio is presently 22.22%.

Institutional Trading of Ingles Markets

Several institutional investors and hedge funds have recently modified their holdings of IMKTA. Vanguard Group Inc. raised its position in shares of Ingles Markets by 1.9% during the first quarter. Vanguard Group Inc. now owns 1,257,669 shares of the company's stock worth $81,912,000 after acquiring an additional 22,970 shares during the last quarter. River Road Asset Management LLC boosted its holdings in Ingles Markets by 0.9% in the second quarter. River Road Asset Management LLC now owns 984,705 shares of the company's stock worth $61,967,000 after acquiring an additional 8,886 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Ingles Markets by 16.5% in the second quarter. Brandes Investment Partners LP now owns 948,627 shares of the company's stock valued at $60,124,000 after purchasing an additional 134,398 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Ingles Markets by 7.2% in the second quarter. Gamco Investors INC. ET AL now owns 579,896 shares of the company's stock valued at $36,754,000 after purchasing an additional 38,981 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Ingles Markets by 4.4% during the second quarter. American Century Companies Inc. now owns 536,900 shares of the company's stock worth $34,029,000 after acquiring an additional 22,598 shares during the period. 62.54% of the stock is currently owned by institutional investors.

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.

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