Profile
Sector:
Consumer DefensiveIndustry:
Grocery StoresCountry:
United StatesIPO:
22 September 1987Website:
http://www.ingles-markets.comNext earnings report:
02 August 2024Last dividends:
10 April 2024Next dividends:
11 July 2024Price
after hours | Wed, 03 Jul 2024 19:27:12 GMTAnalysts recommendations
Institutional Ownership
IMKTA Latest News
Ingles Markets has reported revenue declines in H1/FY2024 as food inflation and gas prices have shown very low year-over-year inflation. The operating margin has also continued to fall back into a historical long-term average at quite a rapid pace. Real estate assets on IMKTA's balance sheet provide potential for shareholder value through a sale-and-leaseback or acquisition, but I believe such transactions to be unlikely.
Ingles Markets reports merchandising activities financed by vendors and a decrease in net debt/EBITDA ratio. The company's expansion plan, growth in the prepared food market, loyalty programs, and apps could bring new sales growth. The apps promoted in Google Play and the Apple Store could also enhance the shopping experience of clients.
Ingles Markets' H2/FY2023 results show solid performance, as margins have been sustained at a great level with mostly stable revenues. After my previous write-up, the stock has remained relatively flat despite earnings above my expectations. The stock still seems to have a great undervaluation, as my DCF model estimates a very good amount of upside.
Ingles Markets is a United States-based company operating supermarkets as well as pharmacies and fuel stations. The company has maintained minimally growing revenues with steady margin, although the company's operating margin is currently above a sustainable level. Ingles Markets is a low-risk stock, as supermarket revenues are highly recession-proof.
IMKTA is a regional grocer that has seen a new level of operating quality since the pandemic. The company won't be growing store count at all, but you don't need that in order to make money from the stock right now.
Recently, shares of Ingles Markets came under pressure, in large part because of bottom line weakness. This may deter some investors from buying into the retail chain, but shares still look cheap even if we assume this weakness will continue.
What type of business is Ingles Markets Incorporated?
Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items. The company also owns and operates a milk processing and packaging plant that supplies organic milk, fruit juices, and bottled water products to other retailers, food service distributors, and grocery warehouses. In addition, it provides home meal replacement items, delicatessens, bakeries, floral departments, and greeting cards, as well as broad selections of local organic, beverage, and health-related items. As of September 25, 2021, the company operated 189 supermarkets under the brand name Ingles, and nine supermarkets under the brand name Sav-Mor in western North Carolina, western South Carolina, northern Georgia, eastern Tennessee, southwestern Virginia, and northeastern Alabama, as well as 111 pharmacies and 107 fuel stations. Ingles Markets, Incorporated was founded in 1963 and is headquartered in Asheville, North Carolina.
What sector is Ingles Markets Incorporated in?
Ingles Markets Incorporated is in the Consumer Defensive sector
What industry is Ingles Markets Incorporated in?
Ingles Markets Incorporated is in the Grocery Stores industry
What country is Ingles Markets Incorporated from?
Ingles Markets Incorporated is headquartered in United States
When did Ingles Markets Incorporated go public?
Ingles Markets Incorporated initial public offering (IPO) was on 22 September 1987
What is Ingles Markets Incorporated website?
https://www.ingles-markets.com
Is Ingles Markets Incorporated in the S&P 500?
No, Ingles Markets Incorporated is not included in the S&P 500 index
Is Ingles Markets Incorporated in the NASDAQ 100?
No, Ingles Markets Incorporated is not included in the NASDAQ 100 index
Is Ingles Markets Incorporated in the Dow Jones?
No, Ingles Markets Incorporated is not included in the Dow Jones index
When does Ingles Markets Incorporated report earnings?
The next expected earnings date for Ingles Markets Incorporated is 02 August 2024