55,127 Shares of Weis Markets, Inc. $WMK Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 55,127 shares of Weis Markets during the second quarter, valued at approximately $4.3 million and representing about 0.22% of the company.
• Weis Markets reported quarterly revenue of $1.28 billion and earnings per share of $0.92, while maintaining a $0.34 quarterly dividend, equivalent to a 1.9% yield.
• WMK shares opened at $72.78, with a market capitalization of roughly $1.8 billion; despite a slight Weiss Ratings downgrade, the stock retains a consensus “Buy” rating.

Bank of America Corp DE acquired a new position in Weis Markets, Inc. (NYSE:WMK - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 55,127 shares of the company's stock, valued at approximately $4,317,000. Bank of America Corp DE owned about 0.22% of Weis Markets at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WMK. GAMMA Investing LLC raised its position in shares of Weis Markets by 45.9% during the 2nd quarter. GAMMA Investing LLC now owns 461 shares of the company's stock valued at $36,000 after buying an additional 145 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Weis Markets by 78.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 772 shares of the company's stock valued at $49,000 after acquiring an additional 340 shares during the last quarter. Versant Capital Management Inc increased its stake in Weis Markets by 788.6% in the second quarter. Versant Capital Management Inc now owns 391 shares of the company's stock valued at $31,000 after acquiring an additional 347 shares during the last quarter. Royal Bank of Canada raised its position in Weis Markets by 28.7% during the first quarter. Royal Bank of Canada now owns 3,253 shares of the company's stock valued at $223,000 after purchasing an additional 725 shares in the last quarter. Finally, Money Concepts Capital Corp raised its position in Weis Markets by 15.6% during the first quarter. Money Concepts Capital Corp now owns 7,349 shares of the company's stock valued at $503,000 after purchasing an additional 990 shares in the last quarter.

Weis Markets Price Performance

WMK opened at $72.78 on Tuesday. The stock's 50 day simple moving average is $72.84 and its 200 day simple moving average is $73.07. Weis Markets, Inc. has a 1 year low of $59.99 and a 1 year high of $83.74. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 18.06 and a beta of 0.43.

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Weis Markets (NYSE:WMK - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.92 earnings per share for the quarter. Weis Markets had a return on equity of 7.40% and a net margin of 1.99%.The firm had revenue of $1.28 billion during the quarter.

Weis Markets Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, July 27th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, July 27th. Weis Markets's dividend payout ratio (DPR) is 33.75%.

Analyst Upgrades and Downgrades

• Put Weis Markets NYSE: WMK Stock on Your Shopping List at These Levels

Separately, Weiss Ratings cut Weis Markets from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Weis Markets currently has a consensus rating of "Buy".

About Weis Markets

Weis Markets, Inc is a food retailer that operates supermarkets under the Weis Markets name. The company sells a broad selection of grocery products, including fresh produce, meat and seafood, dairy items, bakery goods, prepared foods, packaged foods, beverages and household products. Many locations also offer pharmacies, fuel stations and other convenience services.

Founded in 1912 by brothers Harry and Sigmund Weis in Sunbury, Pennsylvania, the company has grown from a regional grocery business into a supermarket operator serving communities primarily in Pennsylvania, Maryland, Delaware, New Jersey, West Virginia and Virginia.

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