Ingles Markets, Incorporated (NASDAQ:IMKTA) Short Interest Update

Ingles Markets, Incorporated (NASDAQ:IMKTA) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 588,400 shares, a decline of 8.0% from the October 15th total of 639,300 shares. Based on an average trading volume of 140,800 shares, the days-to-cover ratio is presently 4.2 days.

Analyst Ratings Changes

Separately, StockNews.com lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 21st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. River Road Asset Management LLC lifted its position in Ingles Markets by 7.1% during the third quarter. River Road Asset Management LLC now owns 971,026 shares of the company’s stock valued at $72,439,000 after purchasing an additional 64,296 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Ingles Markets by 1.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 550,595 shares of the company’s stock valued at $42,220,000 after purchasing an additional 6,475 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Ingles Markets by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 405,558 shares of the company’s stock worth $30,255,000 after acquiring an additional 31,027 shares during the last quarter. Geode Capital Management LLC raised its holdings in Ingles Markets by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 399,190 shares of the company’s stock valued at $29,785,000 after buying an additional 14,264 shares during the period. Finally, Gabelli Funds LLC boosted its position in shares of Ingles Markets by 0.3% during the second quarter. Gabelli Funds LLC now owns 376,100 shares of the company’s stock worth $25,804,000 after buying an additional 1,000 shares during the period. 62.54% of the stock is owned by institutional investors and hedge funds.

Ingles Markets Stock Down 0.3 %

Shares of Ingles Markets stock traded down $0.22 during trading on Monday, hitting $69.83. 92,022 shares of the stock traded hands, compared to its average volume of 101,812. Ingles Markets has a 52-week low of $59.73 and a 52-week high of $89.59. The stock’s fifty day simple moving average is $67.77 and its 200 day simple moving average is $70.95. The firm has a market cap of $1.33 billion, a P/E ratio of 8.31 and a beta of 0.72. The company has a current ratio of 2.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34.

Ingles Markets Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 10th were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.66 annualized dividend and a dividend yield of 0.95%. Ingles Markets’s dividend payout ratio is presently 7.86%.

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.