Ingles Markets (NASDAQ:IMKTA) Sets New 52-Week Low – Should You Sell?

Ingles Markets, Incorporated (NASDAQ:IMKTA) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $55.00 and last traded at $61.61, with a volume of 742 shares trading hands. The stock had previously closed at $62.12.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Ingles Markets from a “buy” rating to a “hold” rating in a research note on Monday, February 10th.

Ingles Markets Stock Performance

The firm has a market cap of $1.18 billion, a P/E ratio of 14.95 and a beta of 0.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 3.24. The business’s 50-day simple moving average is $63.85 and its 200 day simple moving average is $66.01.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.87 EPS for the quarter. Ingles Markets had a return on equity of 5.09% and a net margin of 1.45%.

Ingles Markets Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.07%. Ingles Markets’s dividend payout ratio is currently 15.94%.

Hedge Funds Weigh In On Ingles Markets

A number of institutional investors and hedge funds have recently made changes to their positions in IMKTA. Wealth Enhancement Advisory Services LLC bought a new stake in Ingles Markets during the fourth quarter valued at about $248,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Ingles Markets during the 4th quarter valued at approximately $5,886,000. Jefferies Financial Group Inc. bought a new position in shares of Ingles Markets during the 4th quarter valued at approximately $291,000. Voloridge Investment Management LLC increased its holdings in Ingles Markets by 19.4% in the 4th quarter. Voloridge Investment Management LLC now owns 83,328 shares of the company’s stock worth $5,370,000 after acquiring an additional 13,567 shares in the last quarter. Finally, State of Wyoming raised its stake in Ingles Markets by 8.4% during the 4th quarter. State of Wyoming now owns 4,578 shares of the company’s stock worth $295,000 after acquiring an additional 354 shares during the period. Hedge funds and other 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.