Short interest in Ingles Markets, Incorporated (NASDAQ:IMKTA) falls 5.9%

Ingles Markets, Incorporated (NASDAQ:IMKTA – Get Free Report ) received a significant decrease in short interest during the month of August. On August 31st there was short interest totaling 431,700 shares, down 5.9% from the August 15th total of 459,000 shares. Based on an average daily trading volume of 89,000 shares, the short interest rate is currently 4.9 days.

Insiders place their bets

In other news, Director Sharp Laura Ingle sold 5,901 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $68.02, for a total value of $401,386.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.10% of the company’s shares.

Hedge funds influence the English markets

A number of large investors have recently modified their holdings of IMKTA. Gamco Investors INC. ET AL raised its stake in Ingles Markets by 1.2% in the first quarter. Gamco Investors INC. ET AL now owns 550,595 shares of the company’s stock valued at $42,220,000 after buying an additional 6,475 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Ingles Markets by 0.3% in the second quarter. Gabelli Funds LLC now owns 376,100 shares of the company’s stock worth $25,804,000 after acquiring an additional 1,000 shares in the last quarter. American Century Companies Inc. boosted its stake in Ingles Markets by 9.5% in the second quarter. American Century Companies Inc. now owns 369,184 shares of the company’s stock worth $25,330,000 after purchasing an additional 32,013 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Ingles Markets by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 311,124 shares of the company’s stock worth $26,872,000 after purchasing an additional 23,854 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Ingles Markets by 2.6% in the first quarter. Bridgeway Capital Management LLC now owns 231,074 shares of the company’s stock worth $17,719,000 after purchasing an additional 5,950 shares in the last quarter. 62.54% of the shares are currently held by institutional investors.

Analysts set new price targets

Separately, StockNews.com downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th.

Check out our latest report on the English markets

The price performance of English markets

Shares of NASDAQ:IMKTA opened at $73.10 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.99, and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.39 billion, a PE ratio of 7.89 and a beta of 0.70. Ingles Markets has a 12 month low of $67.10 and a 12 month high of $89.59. The company has a 50 day moving average price of $74.27 and a two hundred day moving average price of $73.26.

Ingles Markets (NASDAQ:IMKTA – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.67 EPS for the quarter. Ingles Markets had a net margin of 2.74% and a return on equity of 10.58%. The company had revenue of $1.39 billion during the quarter.

English markets dividend announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Thursday, July 11th were given a $0.165 dividend. The ex-dividend date was Thursday, July 11. This represents a dividend of $0.66 on an annualized basis and a dividend yield of 0.90%. Ingles Markets’ dividend payout ratio (DPR) is currently 7.12%.

Ingles Markets Company Profile

(Get a free report)

Ingles Markets, Incorporated, together with its subsidiaries, operates a supermarket chain in the southeastern United States. Provides food products, including food products, meat and dairy products, food products, frozen food and other perishable products; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.

Further reading

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