Ingles Markets (NASDAQ:IMKTA) Sets New 52-Week Low at $72.72

Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $72.72 and last traded at $73.27, with a volume of 60504 shares changing hands. The stock had previously closed at $73.34.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Ingles Markets from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 9th. TheStreet cut shares of Ingles Markets from a "b" rating to a "c+" rating in a research report on Monday, February 26th.

Ingles Markets Trading Down 0.1 %

The company has a quick ratio of 1.45, a current ratio of 3.22 and a debt-to-equity ratio of 0.36. The firm's 50 day simple moving average is $76.06 and its two-hundred day simple moving average is $80.24. The stock has a market cap of $1.39 billion, a P/E ratio of 7.53 and a beta of 0.60.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last released its earnings results on Thursday, February 8th. The company reported $2.28 earnings per share for the quarter. Ingles Markets had a net margin of 3.14% and a return on equity of 12.92%. The firm had revenue of $1.48 billion during the quarter.

Ingles Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Thursday, April 11th will be paid a dividend of $0.165 per share. The ex-dividend date is Wednesday, April 10th. This represents a $0.66 annualized dividend and a yield of 0.90%. Ingles Markets's payout ratio is 6.79%.

Insider Buying and Selling at Ingles Markets

In other news, Director Sharp Laura Ingle sold 4,000 shares of the company's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $76.25, for a total transaction of $305,000.00. Following the completion of the transaction, the director now owns 20,700 shares in the company, valued at $1,578,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 8,000 shares of company stock worth $607,000 over the last 90 days. Insiders own 23.10% of the company's stock.

Hedge Funds Weigh In On Ingles Markets

Several institutional investors have recently modified their holdings of IMKTA. Price T Rowe Associates Inc. MD lifted its holdings in Ingles Markets by 2.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,868 shares of the company's stock worth $422,000 after purchasing an additional 128 shares during the period. Captrust Financial Advisors lifted its holdings in Ingles Markets by 2.5% in the fourth quarter. Captrust Financial Advisors now owns 6,035 shares of the company's stock worth $582,000 after purchasing an additional 149 shares during the period. Osaic Holdings Inc. lifted its holdings in Ingles Markets by 53.0% in the second quarter. Osaic Holdings Inc. now owns 439 shares of the company's stock worth $36,000 after purchasing an additional 152 shares during the period. Quadrant Capital Group LLC lifted its holdings in Ingles Markets by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 735 shares of the company's stock worth $63,000 after purchasing an additional 170 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Ingles Markets by 0.3% in the first quarter. Lazard Asset Management LLC now owns 81,794 shares of the company's stock worth $7,283,000 after purchasing an additional 219 shares during the period. Institutional investors own 62.54% of the company's stock.

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.