Ingles Markets (NASDAQ:IMKTA) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Ingles Markets, Incorporated (NASDAQ:IMKTA - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $63.33 and traded as high as $67.63. Ingles Markets shares last traded at $66.91, with a volume of 126,329 shares traded.

Analyst Ratings Changes

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

Ingles Markets Trading Up 0.8%

The firm has a market cap of $1.28 billion, a P/E ratio of 20.66 and a beta of 0.71. The business's fifty day moving average is $63.09 and its 200-day moving average is $63.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.46 and a current ratio of 3.19.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its 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%.

Ingles Markets Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, July 10th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Thursday, July 10th. Ingles Markets's dividend payout ratio (DPR) is presently 20.25%.

Hedge Funds Weigh In On Ingles Markets

Several hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC increased its stake in Ingles Markets by 82.5% in the second quarter. Signaturefd LLC now owns 522 shares of the company's stock valued at $33,000 after purchasing an additional 236 shares during the last quarter. Significant Wealth Partners LLC raised its position in Ingles Markets by 2.8% during the 2nd quarter. Significant Wealth Partners LLC now owns 7,390 shares of the company's stock worth $468,000 after buying an additional 204 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Ingles Markets in the 2nd quarter worth $344,000. Anchor Investment Management LLC raised its holdings in Ingles Markets by 85.0% during the first quarter. Anchor Investment Management LLC now owns 1,850 shares of the company's stock worth $120,000 after purchasing an additional 850 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Ingles Markets by 275.9% in the 1st quarter. Jane Street Group LLC now owns 30,644 shares of the company's stock valued at $1,996,000 after purchasing an additional 22,492 shares in the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.

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.