Bank of America Corp DE Purchases 29,806 Shares of Weis Markets, Inc. $WMK

Key Points

• Bank of America increased its Weis Markets stake by 69.3% in the first quarter, purchasing 29,806 additional shares and bringing its holdings to 72,810 shares worth approximately $4.98 million.
• Several other institutional investors also raised their positions or initiated stakes in Weis Markets, while Weiss Ratings upgraded the stock to “buy (b),” contributing to an overall average “Buy” rating.
• Weis Markets reported quarterly earnings of $0.92 per share on $1.28 billion in revenue and maintains a quarterly dividend of $0.34 per share, equivalent to a 1.9% yield.

Bank of America Corp DE grew its holdings in Weis Markets, Inc. (NYSE:WMK - Free Report) by 69.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,810 shares of the company's stock after purchasing an additional 29,806 shares during the quarter. Bank of America Corp DE owned approximately 0.29% of Weis Markets worth $4,979,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Torren Management LLC acquired a new stake in shares of Weis Markets during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC increased its stake in Weis Markets by 107.0% in the second quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company's stock valued at $26,000 after purchasing an additional 184 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Weis Markets by 78.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 772 shares of the company's stock worth $49,000 after purchasing an additional 340 shares during the period. Raymond James Financial Inc. acquired a new stake in Weis Markets in the second quarter worth $55,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Weis Markets by 138.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,330 shares of the company's stock worth $96,000 after purchasing an additional 773 shares in the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Weis Markets from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy".

• Waste Management NYSE: WM Turning Trash Into Cash

Weis Markets Stock Down 0.4%

Shares of WMK opened at $70.39 on Friday. Weis Markets, Inc. has a twelve month low of $59.99 and a twelve month high of $83.74. The stock has a market capitalization of $1.74 billion, a P/E ratio of 17.47 and a beta of 0.45. The company has a 50 day moving average of $75.99 and a 200-day moving average of $72.75.

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

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

Weis Markets Announces Dividend

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

Weis Markets Profile

Weis Markets, Inc NYSE: WMK is a regional supermarket chain headquartered in Sunbury, Pennsylvania, operating more than 200 stores across the Mid-Atlantic and Eastern Seaboard. Founded in 1912 by Harry and Sigmund Weis as a small produce and egg business, the company has grown into a full-service grocer serving Pennsylvania, Maryland, New York, New Jersey, Delaware, Virginia, West Virginia and Ohio. Weis Markets offers a broad selection of products including fresh produce, bakery, deli, dairy, meat and seafood, alongside grocery, general merchandise and prepared foods.

In addition to traditional grocery offerings, Weis Markets provides pharmacy services in many of its locations, as well as in-store fuel centers at select sites.

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