Brandywine Global Investment Management LLC Buys Shares of 94,155 Weis Markets, Inc. (NYSE:WMK)

Key Points

• Brandywine Global Investment Management LLC acquired 94,155 shares of Weis Markets, Inc. for approximately $7.25 million, constituting about 0.35% of the company's total stock.
• Various institutional investors, including Sterling Capital Management LLC, increased their holdings in Weis Markets, reflecting significant interest in the company.
• Weis Markets recently saw a shift in its stock rating from a "strong-buy" to a "buy" by Wall Street Zen, indicating a change in market sentiment.

Brandywine Global Investment Management LLC purchased a new stake in Weis Markets, Inc. (NYSE:WMK - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 94,155 shares of the company's stock, valued at approximately $7,255,000. Brandywine Global Investment Management LLC owned approximately 0.35% of Weis Markets as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC boosted its holdings in shares of Weis Markets by 826.3% in the 4th quarter. Sterling Capital Management LLC now owns 528 shares of the company's stock valued at $36,000 after buying an additional 471 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Weis Markets in the 1st quarter valued at about $58,000. State of Wyoming bought a new stake in shares of Weis Markets in the 4th quarter valued at about $104,000. Exchange Traded Concepts LLC boosted its holdings in shares of Weis Markets by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,079 shares of the company's stock valued at $160,000 after buying an additional 1,926 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of Weis Markets by 12.5% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,404 shares of the company's stock valued at $262,000 after buying an additional 379 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Weis Markets from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 8th.

Weis Markets Stock Performance

NYSE:WMK opened at $69.90 on Friday. The company's 50-day simple moving average is $74.12 and its 200-day simple moving average is $76.08. The stock has a market capitalization of $1.73 billion, a P/E ratio of 17.39 and a beta of 0.47. Weis Markets, Inc. has a fifty-two week low of $62.25 and a fifty-two week high of $90.23.

Weis Markets (NYSE:WMK - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.01 EPS for the quarter. The company had revenue of $1.21 billion during the quarter. Weis Markets had a net margin of 2.23% and a return on equity of 7.60%.

Weis Markets Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, July 28th were paid a $0.34 dividend. The ex-dividend date was Monday, July 28th. This represents a $1.36 dividend on an annualized basis and a yield of 1.9%. Weis Markets's dividend payout ratio (DPR) is 33.83%.

About Weis Markets

Weis Markets, Inc engages in the retail sale of food through a chain of supermarkets in Pennsylvania and surrounding states. The company's retail food stores sell groceries, dairy products, frozen foods, meats, seafood, fresh produce, floral, pharmacy services, deli products, prepared foods, bakery products, beer and wine, and fuel; and general merchandise items, such as health and beauty care, and household products.

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