Ingles Markets, Incorporated (NASDAQ:IMKTA) – Equities research analysts at Gabelli upped their FY2021 earnings per share estimates for Ingles Markets in a report released on Monday. Gabelli analyst D. Witkowski now expects that the company will post earnings of $3.95 per share for the year, up from their prior estimate of $3.55.

IMKTA has been the topic of a number of other reports. TheStreet upgraded Ingles Markets from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. BidaskClub upgraded Ingles Markets from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. Finally, Zacks Investment Research cut Ingles Markets from a “buy” rating to a “hold” rating in a report on Thursday, February 8th.

Shares of Ingles Markets (NASDAQ:IMKTA) traded up $0.55 during mid-day trading on Wednesday, hitting $31.10. The stock had a trading volume of 119,600 shares, compared to its average volume of 111,515. Ingles Markets has a one year low of $20.75 and a one year high of $48.35. The firm has a market cap of $618.91, a PE ratio of 7.39, a PEG ratio of 3.24 and a beta of 0.60. The company has a current ratio of 1.81, a quick ratio of 0.37 and a debt-to-equity ratio of 1.59.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings results on Thursday, December 7th. The company reported $0.96 earnings per share (EPS) for the quarter. Ingles Markets had a return on equity of 16.66% and a net margin of 2.11%. The company had revenue of $1.09 billion for the quarter.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. boosted its position in shares of Ingles Markets by 353.3% in the second quarter. Citigroup Inc. now owns 4,161 shares of the company’s stock worth $138,000 after buying an additional 3,243 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ingles Markets in the second quarter worth $264,000. Voya Investment Management LLC boosted its position in shares of Ingles Markets by 11.7% in the second quarter. Voya Investment Management LLC now owns 8,252 shares of the company’s stock worth $275,000 after buying an additional 864 shares during the period. Virginia Retirement Systems ET AL boosted its position in shares of Ingles Markets by 42.0% in the third quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the company’s stock worth $252,000 after buying an additional 2,900 shares during the period. Finally, Wedge Capital Management L L P NC boosted its position in shares of Ingles Markets by 71.9% in the third quarter. Wedge Capital Management L L P NC now owns 10,804 shares of the company’s stock worth $278,000 after buying an additional 4,519 shares during the period. Institutional investors and hedge funds own 59.15% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Thursday, January 11th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, January 10th. Ingles Markets’s payout ratio is 15.68%.

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Ingles Markets Company Profile

Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.

Earnings History and Estimates for Ingles Markets (NASDAQ:IMKTA)

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