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On June 24, 2024, Sharp Ingle, Director at Ingles Markets Inc (NASDAQ:IMKTA), executed a sale of 4,799 shares of the company at a price of $70.38 per share. This transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 5,901 shares of the company.
Ingles Markets Inc operates a chain of supermarkets in the Southeastern United States. The company offers a range of grocery products, including perishables, non-perishables, and other general merchandise. Ingles Markets Inc is known for its emphasis on providing a localized product mix and strong customer service.
Over the past year, Sharp Ingle has sold a total of 75,799 shares and has not made any purchases of the company's stock. The insider transaction history for Ingles Markets Inc shows a total of 25 insider sells and no insider buys over the same timeframe.
Shares of Ingles Markets Inc were trading at $70.38 on the day of the transaction, giving the company a market cap of $1.32 billion. The price-earnings ratio of the company stands at 7.50, which is lower than both the industry median of 16.62 and the company's historical median.
According to the GF Value, which is an intrinsic value estimate from GuruFocus, Ingles Markets Inc is currently modestly undervalued with a price-to-GF-Value ratio of 0.79. The GF Value of $89.35 suggests a potential undervaluation of the stock.
This valuation is supported by historical multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.