Ingles Markets (NASDAQ:IMKTA) Stock Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Ingles Markets shares moved above their 50-day moving average of $84.39, reaching $85.75 and last trading at $85.16 on volume of 61,835 shares.
• The stock has an average Buy rating, based on one analyst’s rating; Weiss Ratings also reaffirmed its “buy (b-)” assessment.
• The company’s quarterly dividend is $0.165 per share, equivalent to $0.66 annually and a yield of approximately 0.8%.

Ingles Markets, Incorporated (NASDAQ:IMKTA - Get Free Report)'s share price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $84.39 and traded as high as $85.75. Ingles Markets shares last traded at $85.16, with a volume of 61,835 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "buy (b-)" rating on shares of Ingles Markets in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company currently has an average rating of "Buy".

Ingles Markets Trading Up 1.4%

The business has a 50 day moving average of $84.39 and a two-hundred day moving average of $86.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.75 and a current ratio of 3.21. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 15.57 and a beta of 0.56.

Ingles Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 8th were issued a dividend of $0.1650 per share. The ex-dividend date was Thursday, October 8th. This represents a $0.66 annualized dividend and a yield of 0.8%. Ingles Markets's dividend payout ratio is presently 12.07%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in Ingles Markets by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 916,178 shares of the company's stock valued at $82,356,000 after purchasing an additional 2,816 shares during the last quarter. Royce & Associates LP raised its stake in shares of Ingles Markets by 13.7% in the third quarter. Royce & Associates LP now owns 191,000 shares of the company's stock worth $16,201,000 after purchasing an additional 23,000 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Ingles Markets by 78.7% in the first quarter. Empowered Funds LLC now owns 111,548 shares of the company's stock valued at $10,027,000 after purchasing an additional 49,115 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ingles Markets by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 97,978 shares of the company's stock valued at $8,807,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Towle & Co. bought a new position in shares of Ingles Markets in the first quarter valued at approximately $6,333,000. 62.54% of the stock is owned by institutional investors.

About Ingles Markets

Ingles Markets is a regional supermarket operator serving communities across the southeastern United States. Its stores sell groceries and other everyday essentials, including fresh produce, meat, dairy products, bakery items, and household goods. Many locations also offer services such as pharmacies and fuel centers. The company operates primarily in North Carolina, Georgia, South Carolina, Tennessee, and Virginia. Its business also includes food-related operations that support its retail stores, such as a milk processing facility and a distribution center.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.