posted by mark
on Tue, 08/09/2022 - 12:43
Ingles Markets out of Ashville NC is a grocer that has been coming alive over the last three years. See the attachment with their share A earnings. Do your own research, but the numbers have really stepped it up to a higher level.
I identified them when I visited Ashville, NC to visit my daughter who is in a Physician's Assistant program.
Here is what they have:
- Very modern stores with pharmacies and gas stations.
- Nice wide aisles, well-lit modern facilities, clean, and great looking presentation.
- They have a plethora of great departments which are well stocked.
- They have 189 locations in NC, SC, GA, TN, VA and AL.
- They control much of their own costs by owning a milk processing and packaging plant; and they own their distribution facilities and trucks.
- They own 84 shopping centers which they lease out parcels for 20 year leases, so they mitigate their property costs while the properties appreciate, similar to how REIT's are operated.
They are well under the radar of Wall Street because of their size. As Wall Street recognizes their value they will surely appreciate.
I bought shares after doing some fundamental and "boots on the ground" analysis. Don't take my word for it. CFRA rates them a STRONG BUY. It is well worth your time to check them out!
Be smart, be well-read, be aware and be successful.
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