Ingles Mkts Inc Stock Price, News & Analysis

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. This equates to an annual rate of $0.66 for Class A and $0.60 for Class B shares. The dividends are scheduled for payment on April 15, 2021, to shareholders on record as of April 8, 2021.

The company, headquartered in Asheville, North Carolina, operates 198 supermarkets across six southeastern states.

Ingles Markets (NASDAQ: IMKTA) will host a job fair on March 29th from 10 am to 6 pm at its Distribution Center in Black Mountain, NC, aiming to fill over 50 full-time positions across various departments. The company offers competitive pay, especially for forklift operators and order selectors, along with benefits like health insurance, paid time off, and 401k matching. Interested candidates may RSVP or walk in to apply. This initiative emphasizes Ingles' commitment to supporting its retail operations by enhancing workforce availability.

Ingles Markets, Incorporated (NASDAQ: IMKTA) has authorized a share repurchase program for up to 2 million shares of its Class A and Class B Common Stock. As of March 19, 2021, the company had approximately 14.2 million Class A shares and 6.0 million Class B shares outstanding. The program will utilize existing cash, operational cash flow, and financing sources. Repurchases may occur through open market purchases and private transactions, and the timing will depend on various market conditions.

Ingles Markets (NASDAQ: IMKTA) reported a 10.4% increase in net sales to $1.19 billion for the quarter ending December 26, 2020, compared to $1.08 billion in the same period in 2019. The company achieved a net income of $53.8 million, significantly up from $17.7 million the previous year. Gross profit rose to $314.2 million, or 26.4% of sales. Despite higher operating expenses due to pandemic safety measures, the company reduced its debt to $587.9 million from $850 million. Earnings per share were $2.73 (basic) compared to $0.90 the prior year.

Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share for Class A Common Stock and $0.15 per share for Class B Common Stock. This results in an annual dividend rate of $0.66 for Class A and $0.60 for Class B. The dividends are set to be paid on January 14, 2021, to all shareholders of record on January 7, 2021. The company operates 197 supermarkets and maintains a strong presence across six southeastern states.

The FDA has granted its first emergency use authorization for a COVID-19 vaccine, a milestone welcomed by Ingles Markets (NASDAQ: IMKTA). The company is preparing to administer the vaccine, prioritizing high-risk populations as defined by the CDC. CFO Ron Freeman emphasized the role of Ingles pharmacists in community health during this initiative. Ingles Markets operates 197 supermarkets across six southeastern states and aims to efficiently communicate with patients about the vaccine rollout.

Ingles Markets (NASDAQ: IMKTA) reported strong financial results for the fourth quarter and fiscal year ended September 26, 2020. Net sales reached $1.20 billion for Q4, a rise of 11.3% year-over-year, while annual sales totaled $4.61 billion, marking a 9.7% increase. Net income surged to $57.9 million for Q4 and $178.6 million for the fiscal year. However, operating expenses rose due to pandemic-related safety measures. The company reduced total debt from $852.2 million to $605.5 million, reflecting strategic refinancing efforts.

Ingles Markets (NASDAQ: IMKTA) is partnering with the U.S. Department of Health and Human Services to administer the upcoming COVID-19 vaccine. Once approved, Ingles Pharmacies will receive direct allocations of the vaccine. The company aims to ensure safe and convenient vaccine administration for its communities, continuing its commitment to public health. Ingles has already set records in flu vaccinations during the pandemic and will maintain heightened safety measures to protect customers.

Ingles Markets declared a cash dividend of $0.165 per share on Class A Common Stock and $0.15 per share on Class B Common Stock, amounting to annual rates of $0.66 and $0.60 respectively. The dividends are payable on October 15, 2020, to shareholders of record on October 8, 2020. Ingles operates 197 supermarkets across six southeastern states, with a focus on community-oriented services.