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IMKTA FY2017: Boring For Shareholders, Good For Bondholders (Hurry Up To Catch 5.7% Yield)

Published Mon, 11 Dec 2017 13:31:42 -0500 on Seeking Alpha

Ingles Markets has reported its financial results for a fiscal year ending September 30, 2017. As we mentioned earlier in the article dated December 1, 2017, Ingles Markets 2023 bond has one of the best credit quality/duration/yield characteristics in Consumer Sector of Fixed Income market. Following the publication of annual results, we are even more convinced on the positive prospects for Ingles Markets and, as the result, on creating value for bondholders. In time when many other supermarket chains find themselves under heavy stress, IMKTA delivers positive comparable sales.
Investment characteristics:
Instrument type
Fixed Income
Level of risk
High-Yield
Investment horizon
Medium
Strategy
Buy, Hold to maturity

Characteristics of fixed income security: Issuer
CUSIP
Currency
Rank
Coupon
Amount outst.
Pricing date
Maturity
YTM /m. dur.
YTW /m. dur.
Ask price
Ingles Markets Inc
4570
30AJ3
USD
Sr Un'd
5.75%
$700 mn
7 Nov 2013
15 June 2023
6.12 /4.6
6.12 /4.6
98.30

Key takeaways from the report: The figures exceeded anticipated by the market: sales slightly exceeded $4 bn, and came at 2.8% higher than expected, EBITDA for the year was $238 mn vs $229 mn expected, or 3.9% higher. During the quarter net debt decreased from $862.7 mn to $854 mn, effectively deleveraging the company from 3.8x to 3.6x on a TTM basis. In the coming year leverage is... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
INGLES MARKETS 42.00   10.8 3.90 0.66 1.59

INGLES MARKETS - IMKTA
INGLES MARKETS - IMKTA  


Older articles featuring Ingles Markets (IMKTA):
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Stocks Trading Ex-Dividend on 1/4/2017
Ingles Markets, Incorporated Declares Quarterly Cash Dividend

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