Zacks Investment Research lowered shares of Ingles Markets (NASDAQ:IMKTA) from a buy rating to a hold rating in a research note released on Thursday morning.
According to Zacks, “Ingles Markets, Incorporated is a leading supermarket chain with operations in the southeastern United States. Ingles’ strategy is to locate its supermarkets primarily in suburban areas, small towns and rural communities, where management believes the market may be underserved by existing supermarkets. “
Other research analysts also recently issued reports about the stock. TheStreet upgraded shares of Ingles Markets from a c+ rating to a b- rating in a report on Tuesday, December 26th. BidaskClub upgraded shares of Ingles Markets from a hold rating to a buy rating in a report on Tuesday, December 12th.
Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Thursday, December 7th. The company reported $0.96 earnings per share (EPS) for the quarter. The company had revenue of $1.09 billion during the quarter. Ingles Markets had a net margin of 1.35% and a return on equity of 10.92%. research analysts predict that Ingles Markets will post 2.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Thursday, January 11th were issued a $0.165 dividend. The ex-dividend date was Wednesday, January 10th. This represents a $0.66 dividend on an annualized basis and a yield of 2.07%. Ingles Markets’s payout ratio is 15.68%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new stake in Ingles Markets during the third quarter valued at $11,931,000. Citadel Advisors LLC boosted its position in shares of Ingles Markets by 550.3% during the 3rd quarter. Citadel Advisors LLC now owns 119,355 shares of the company’s stock worth $3,067,000 after purchasing an additional 101,000 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Ingles Markets by 29.9% during the 3rd quarter. Prudential Financial Inc. now owns 347,596 shares of the company’s stock worth $8,933,000 after purchasing an additional 79,940 shares in the last quarter. Dupont Capital Management Corp bought a new position in shares of Ingles Markets during the 3rd quarter worth about $1,435,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Ingles Markets by 148.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 91,486 shares of the company’s stock worth $3,046,000 after purchasing an additional 54,600 shares in the last quarter. Institutional investors and hedge funds own 59.50% of the company’s stock.
Ingles Markets Company Profile
Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.
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