Bank of America Corp DE Acquires New Position in Winmark Corporation $WINA

Key Points

• Bank of America acquired 15,421 Winmark shares worth approximately $6.5 million during the second quarter, representing about 0.43% of the company. Institutional investors and hedge funds collectively own 73.32% of Winmark.
• Winmark’s stock opened at $296.35, with a market capitalization of $1.06 billion, after trading between $280.05 and $527.37 over the past year. The company reported quarterly EPS of $2.81, below the $3.14 analyst consensus, while revenue of $21.97 million exceeded expectations.
• Analyst sentiment remains neutral, with the sole analyst rating Winmark a Hold and Weiss Ratings recently downgrading its rating. Winmark paid a quarterly dividend of $1.02, equivalent to a 1.4% annualized yield.

Bank of America Corp DE bought a new position in Winmark Corporation (NASDAQ:WINA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,421 shares of the specialty retailer's stock, valued at approximately $6,524,000. Bank of America Corp DE owned approximately 0.43% of Winmark at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Winmark by 5.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 74,379 shares of the specialty retailer's stock worth $31,800,000 after purchasing an additional 3,771 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Winmark during the second quarter valued at about $13,319,000. Principal Financial Group Inc. purchased a new stake in Winmark during the first quarter valued at about $6,144,000. BlackRock Inc. acquired a new position in shares of Winmark in the second quarter worth about $207,212,000. Finally, Port Capital LLC acquired a new position in shares of Winmark in the second quarter worth about $36,709,000. Institutional investors and hedge funds own 73.32% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Winmark from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, September 18th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold".

Winmark Price Performance

NASDAQ:WINA opened at $296.35 on Monday. The stock has a market cap of $1.06 billion, a PE ratio of 26.89 and a beta of 0.54. Winmark Corporation has a fifty-two week low of $280.05 and a fifty-two week high of $527.37. The stock's 50-day moving average is $331.81 and its two-hundred day moving average is $375.56.

Winmark (NASDAQ:WINA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The specialty retailer reported $2.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.14 by ($0.33). The company had revenue of $21.97 million during the quarter, compared to analysts' expectations of $21.67 million. Winmark had a negative return on equity of 99.47% and a net margin of 47.09%.

Winmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, August 12th. Winmark's dividend payout ratio (DPR) is presently 37.02%.

Winmark Company Profile

Winmark Corporation NASDAQ: WINA is a franchisor that develops and supports resale retail businesses in the United States and Canada. Its portfolio includes Plato's Closet, which buys and sells gently used apparel and accessories for teens and young adults; Once Upon A Child, which focuses on children's clothing, toys and equipment; Play It Again Sports, which specializes in new and used sporting goods; Style Encore, which sells secondhand women's clothing and accessories; and Music Go Round, which offers new and used musical instruments and equipment.

Winmark's primary business activities include granting franchises, collecting royalties and providing franchisees with operational support, marketing programs, training, technology and store-development resources.

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