STOCK TITAN

Ingles Markets Inc - IMKTA STOCK NEWS

Welcome to our dedicated page for Ingles Markets news (Ticker: IMKTA), a resource for investors and traders seeking the latest updates and insights on Ingles Markets stock.

Since 1963, Ingles Markets, Inc. has been Western North Carolina's leading local supermarket, with over 200 retail locations across 6 southeastern states. Committed to old-fashioned values and progressive vision, Ingles is dedicated to meeting goals and serving communities.

Ingles Markets Inc is a U.S.-based company operating a supermarket chain primarily in the southeast United States. With stores in Georgia, North Carolina, South Carolina, Tennessee, Virginia, and Alabama, Ingles offers a wide range of goods from food products to general merchandise. The company's real estate ownership contributes significantly to its revenue through rental income.

Rhea-AI Summary

Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 for Class A Common Stock and $0.15 for Class B Common Stock. This represents an annual rate of $0.66 and $0.60 per share, respectively. The dividends are payable on July 14, 2022, to shareholders of record on July 7, 2022.

The company operates 198 supermarkets across six southeastern states and also runs neighborhood shopping centers and a fluid dairy facility.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.66%
Tags
dividends
-
Rhea-AI Summary

Ingles Markets (NASDAQ: IMKTA) reported a strong financial performance for the second quarter and first half of fiscal 2022. Net sales increased by 16.3% to $1.38 billion in Q2, with net income rising to $68.6 million, up from $52.2 million a year earlier. Gross profit for Q2 was $348.6 million, representing 25.3% of sales. For the first half, net sales reached $2.77 billion, with net income of $134.8 million, marking an increase of 16.6% compared to the same period last year. Despite increased expenses, the company maintains a solid cash position with no borrowings on its credit line.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.32%
Tags
-
Rhea-AI Summary

Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share on its Class A Common Stock and $0.15 on Class B Common Stock. This translates to an annual dividend rate of $0.66 for Class A and $0.60 for Class B. The dividends are payable on April 14, 2022, to shareholders of record as of April 7, 2022. Ingles operates 198 supermarkets across six southeastern states, alongside neighborhood shopping centers and a fluid dairy facility.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.32%
Tags
dividends
Rhea-AI Summary

Ingles Markets announces the promotion of Patricia (Pat) E. Jackson to Chief Financial Officer (CFO), effective February 23, 2022. She succeeds Ronald B. Freeman, who retired after nearly 17 years. Pat joined Ingles in 2010 as Controller and previously served as CFO of Sisters of Mercy Services Corporation. As a licensed CPA with a Master’s in Accounting, her leadership is expected to bolster the company's financial strength. Chairman Robert P. Ingle II commended her effective leadership and sound judgment.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.74%
Tags
none
-
Rhea-AI Summary

Ingles Markets (NASDAQ: IMKTA) reported a 16.9% increase in net sales for Q1 2022, reaching $1.39 billion, compared to $1.19 billion in Q1 2021. Net income rose to $66.2 million, up from $53.8 million year-over-year. However, gross profit margin declined to 25.2% from 26.4%, with expenses increasing due to higher personnel costs amid labor market challenges. Basic earnings per share rose to $3.57, up from $2.73. The company maintains a solid financial position with no borrowings on its $150 million credit line, ensuring liquidity for future needs.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.94%
Tags
-
Rhea-AI Summary

Ingles Markets, Incorporated (NASDAQ: IMKTA) announced the retirement of its CFO, Ronald B. Freeman, effective February 16, 2022. Freeman has served as CFO for 17 years and will not seek re-election to the board of directors. Chairman Robert P. Ingle II expressed gratitude for Freeman's contributions and the company's strong financial standing under his leadership. Ingles Markets operates 198 supermarkets across six southeastern states, along with neighborhood shopping centers and a fluid dairy facility.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.36%
Tags
none
Rhea-AI Summary

Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share on its Class A Common Stock and $0.15 per share on its Class B Common Stock, reflecting annual rates of $0.66 and $0.60, respectively. These dividends are payable on January 13, 2022, to shareholders of record on January 6, 2022. Headquartered in Asheville, North Carolina, Ingles operates 198 supermarkets across six southeastern states and also runs neighborhood shopping centers and a fluid dairy facility.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.09%
Tags
dividends
-
Rhea-AI Summary

Ingles Markets (NASDAQ: IMKTA) reported a strong performance for the fourth quarter and fiscal year ended September 25, 2021, showing net sales of $1.34 billion, a rise of 11.6% year-over-year. Annual net sales reached $4.99 billion, increasing by 8.2%. Net income for Q4 increased to $71.7 million, with EPS for Class A shares at $3.86. For the fiscal year, net income climbed to $249.7 million, with Class A EPS of $13.06. However, operating expenses rose to $963.3 million, reflecting higher personnel costs. The company reduced its debt from $605.5 million to $589.5 million.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.2%
Tags
-
Rhea-AI Summary

Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share on Class A Common Stock and $0.15 per share on Class B Common Stock, reflecting annual rates of $0.66 and $0.60, respectively. These dividends are payable on October 14, 2021, to shareholders of record as of October 7, 2021. The company operates 199 supermarkets across six southeastern states and also runs neighborhood shopping centers and a fluid dairy facility.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.78%
Tags
dividends
Rhea-AI Summary

Ingles Markets (NASDAQ: IMKTA) reported Q3 net sales of $1.28 billion, up 7.4% year-over-year, and a net income of $72 million, a 14.5% increase. The gross profit was $337.5 million, representing 26.4% of sales. For the nine months ended June 26, 2021, net sales reached $3.65 billion, an increase of 7.0%, with net income of $178 million, up from $120.7 million in the prior year. Operating expenses rose due to increased labor costs. The company refinanced $350 million in senior notes, reducing interest expenses significantly.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.4%
Tags

FAQ

What is the current stock price of Ingles Markets (IMKTA)?

The current stock price of Ingles Markets (IMKTA) is $71.09 as of November 6, 2024.

What is the market cap of Ingles Markets (IMKTA)?

The market cap of Ingles Markets (IMKTA) is approximately 1.3B.

Where is Ingles Markets, Inc. based?

Ingles Markets, Inc. is a U.S.-based company with over 200 retail locations operating in 6 southeastern states, including Georgia, North Carolina, South Carolina, Tennessee, Virginia, and Alabama.

What does Ingles Markets, Inc. specialize in?

Ingles Markets, Inc. is primarily engaged in operating a supermarket chain, offering a wide range of goods from food products to general merchandise.

What is the company's approach to business?

Ingles Markets, Inc. combines old-fashioned values with a progressive vision, focusing on meeting goals and serving communities.

How does Ingles Markets, Inc. generate revenue?

Ingles Markets, Inc.'s real estate ownership of a material portion of total stores enables it to generate revenue through rental income.

In how many states does Ingles Markets, Inc. operate?

Ingles Markets, Inc. operates in 6 southeastern states, including Georgia, North Carolina, South Carolina, Tennessee, Virginia, and Alabama.

When was Ingles Markets, Inc. established?

Ingles Markets, Inc. was established in 1963 and has since become Western North Carolina's leading local supermarket.

What is Ingles Markets, Inc.'s commitment?

Ingles Markets, Inc. is committed to its associates, customers, and communities, guided by Mr. Ingle's dedication to old-fashioned values and progressive vision.

What differentiates Ingles Markets, Inc. from other supermarkets?

Ingles Markets, Inc. differentiates itself through its dedication to old-fashioned values, commitment to communities, and a progressive vision for the future.

What types of products does Ingles Markets, Inc. offer?

Ingles Markets, Inc. offers a broad range of goods, including food products, pharmacies, health and beauty care products, and general merchandise.

How does Ingles Markets, Inc. contribute to its communities?

Ingles Markets, Inc. contributes to its communities by maintaining a dedicated workforce, meeting goals, and serving customers through a wide range of goods and services.

How many retail locations does Ingles Markets, Inc. have?

Ingles Markets, Inc. operates over 200 retail locations across 6 southeastern states, ensuring the accessibility of its products and services to a wide customer base.

Ingles Markets Inc

Nasdaq:IMKTA

IMKTA Rankings

IMKTA Stock Data

1.35B
14.55M
0.71%
86.7%
3.37%
Grocery Stores
Aircraft Parts & Auxiliary Equipment, Nec
Link
United States of America
MELVILLE