Ingles Markets, Incorporated (NASDAQ:IMKTA – Get Rating) declared a quarterly dividend on Tuesday, September 27th, Wall Street Journal reports. Stockholders of record on Thursday, October 6th will be given a dividend of 0.165 per share on Thursday, October 13th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Wednesday, October 5th.
Ingles Markets has decreased its dividend payment by an average of 7.2% per year over the last three years. Ingles Markets has a payout ratio of 11.7% meaning its dividend is sufficiently covered by earnings.
Ingles Markets Trading Down 0.9 %
Shares of NASDAQ:IMKTA traded down $0.75 during trading hours on Tuesday, hitting $81.66. 2,679 shares of the company’s stock traded hands, compared to its average volume of 90,880. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.13. The firm has a market capitalization of $1.55 billion, a P/E ratio of 5.63 and a beta of 0.56. The business has a fifty day moving average price of $92.15 and a 200-day moving average price of $91.25. Ingles Markets has a 1 year low of $64.44 and a 1 year high of $102.88.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC acquired a new position in Ingles Markets during the 1st quarter valued at about $45,000. Quantbot Technologies LP lifted its stake in shares of Ingles Markets by 717.0% in the first quarter. Quantbot Technologies LP now owns 817 shares of the company’s stock worth $72,000 after buying an additional 717 shares during the last quarter. Covestor Ltd raised its stake in shares of Ingles Markets by 1,066.0% in the 1st quarter. Covestor Ltd now owns 1,096 shares of the company’s stock valued at $98,000 after buying an additional 1,002 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of Ingles Markets by 16,571.4% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,167 shares of the company’s stock worth $104,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in Ingles Markets by 52.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,300 shares of the company’s stock worth $123,000 after acquiring an additional 450 shares during the last quarter. 65.23% of the stock is currently owned by institutional investors and hedge funds.
Ingles Markets Company Profile
Ingles Markets, Incorporated 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.