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

Ingles Markets, Incorporated (NASDAQ:IMKTA) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 709,200 shares, a growth of 20.5% from the October 31st total of 588,400 shares. Based on an average daily volume of 146,300 shares, the short-interest ratio is presently 4.8 days.

Ingles Markets Price Performance

Shares of IMKTA opened at $73.90 on Friday. Ingles Markets has a fifty-two week low of $59.73 and a fifty-two week high of $89.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. The company has a market capitalization of $1.40 billion, a P/E ratio of 8.80 and a beta of 0.72. The business’s 50-day moving average is $67.65 and its two-hundred day moving average is $70.92.

Ingles Markets Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 10th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, October 10th. Ingles Markets’s dividend payout ratio (DPR) is presently 7.86%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Ingles Markets

A number of institutional investors have recently modified their holdings of the business. Baker Ellis Asset Management LLC grew its position in shares of Ingles Markets by 0.3% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 55,641 shares of the company’s stock valued at $3,818,000 after acquiring an additional 181 shares during the period. CWM LLC boosted its holdings in Ingles Markets by 240.9% in the 2nd quarter. CWM LLC now owns 433 shares of the company’s stock worth $30,000 after buying an additional 306 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ingles Markets by 413.9% in the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $30,000 after buying an additional 327 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Ingles Markets by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 6,933 shares of the company’s stock worth $517,000 after buying an additional 378 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Ingles Markets by 12.1% in the 2nd quarter. Sei Investments Co. now owns 3,844 shares of the company’s stock worth $264,000 after buying an additional 416 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.

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.