Ingles Markets, Incorporated (NASDAQ:IMKTA) – Analysts at Gabelli upped their FY2021 earnings per share (EPS) estimates for Ingles Markets in a research report issued on Monday. Gabelli analyst D. Witkowski now forecasts that the company will earn $3.95 per share for the year, up from their previous estimate of $3.55.
A number of other research firms have also recently issued reports on IMKTA. TheStreet raised Ingles Markets from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. BidaskClub cut Ingles Markets from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Zacks Investment Research raised Ingles Markets from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Wednesday.
Ingles Markets (NASDAQ:IMKTA) last issued its earnings results on Thursday, December 7th. The company reported $0.96 EPS for the quarter. The business had revenue of $1.09 billion during the quarter. Ingles Markets had a return on equity of 16.66% and a net margin of 2.11%.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Thursday, January 11th were paid a $0.165 dividend. The ex-dividend date was Wednesday, January 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.12%. Ingles Markets’s payout ratio is presently 15.68%.
Institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL increased its stake in Ingles Markets by 4.0% during the third quarter. Gamco Investors INC. ET AL now owns 1,266,402 shares of the company’s stock valued at $32,547,000 after acquiring an additional 48,893 shares during the period. Dimensional Fund Advisors LP increased its stake in Ingles Markets by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,184,752 shares of the company’s stock valued at $30,448,000 after acquiring an additional 3,984 shares during the period. Vanguard Group Inc. increased its stake in Ingles Markets by 3.3% during the second quarter. Vanguard Group Inc. now owns 1,032,352 shares of the company’s stock valued at $34,378,000 after acquiring an additional 33,192 shares during the period. BlackRock Inc. increased its stake in Ingles Markets by 0.8% during the fourth quarter. BlackRock Inc. now owns 934,901 shares of the company’s stock valued at $32,348,000 after acquiring an additional 7,561 shares during the period. Finally, Gabelli Funds LLC increased its stake in Ingles Markets by 0.4% during the third quarter. Gabelli Funds LLC now owns 934,600 shares of the company’s stock valued at $24,019,000 after acquiring an additional 4,000 shares during the period. Institutional investors and hedge funds own 59.15% of the company’s stock.
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About Ingles Markets
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.
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