94,155 Shares in Weis Markets, Inc. $WMK Purchased by Brandywine Global Investment Management LLC

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 position in Weis Markets, Inc. (NYSE:WMK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 94,155 shares of the company's stock, valued at approximately $7,255,000. Brandywine Global Investment Management LLC owned 0.35% of Weis Markets as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Weis Markets by 62.5% during the 4th quarter. JPMorgan Chase & Co. now owns 54,952 shares of the company's stock valued at $3,721,000 after buying an additional 21,144 shares during the period. Legal & General Group Plc increased its position in Weis Markets by 2.8% during the fourth quarter. Legal & General Group Plc now owns 17,451 shares of the company's stock valued at $1,182,000 after acquiring an additional 482 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Weis Markets by 826.3% in the fourth quarter. Sterling Capital Management LLC now owns 528 shares of the company's stock valued at $36,000 after acquiring an additional 471 shares during the period. Barclays PLC lifted its holdings in Weis Markets by 3.6% in the fourth quarter. Barclays PLC now owns 28,448 shares of the company's stock valued at $1,926,000 after acquiring an additional 989 shares during the period. Finally, MetLife Investment Management LLC boosted its position in Weis Markets by 6.1% in the fourth quarter. MetLife Investment Management LLC now owns 9,957 shares of the company's stock worth $674,000 after purchasing an additional 574 shares during the last quarter.

Analysts Set New Price Targets

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

Weis Markets Trading Up 3.3%

Shares of NYSE:WMK traded up $2.33 during mid-day trading on Friday, reaching $74.00. The stock had a trading volume of 53,046 shares, compared to its average volume of 121,638. The business's 50 day moving average price is $73.82 and its 200 day moving average price is $76.12. Weis Markets, Inc. has a 1 year low of $62.25 and a 1 year high of $90.23. The company has a market cap of $1.83 billion, a P/E ratio of 18.41 and a beta of 0.47.

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

Weis Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, July 28th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, July 28th. This represents a $1.36 dividend on an annualized basis and a yield of 1.8%. Weis Markets's dividend payout ratio is presently 33.83%.

Weis Markets Profile

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.