Bridgeway Capital Management LLC Boosts Stock Position in Weis Markets, Inc. $WMK

Key Points

• Bridgeway Capital Management LLC increased its stake in Weis Markets, Inc. by 31.2%, acquiring an additional 22,556 shares to reach a total of 94,789 shares valued at approximately $7.3 million.
• Weis Markets reported a quarterly revenue of $1.21 billion and earnings per share of $1.01, while also announcing a quarterly dividend of $0.34 per share.
• Wall Street Zen downgraded Weis Markets from a "strong-buy" to a "buy" rating in early May.

Bridgeway Capital Management LLC raised its position in shares of Weis Markets, Inc. (NYSE:WMK - Free Report) by 31.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,789 shares of the company's stock after purchasing an additional 22,556 shares during the quarter. Bridgeway Capital Management LLC owned 0.35% of Weis Markets worth $7,303,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Weis Markets by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,863,084 shares of the company's stock valued at $143,551,000 after purchasing an additional 20,202 shares in the last quarter. American Century Companies Inc. boosted its stake in Weis Markets by 10.6% in the 1st quarter. American Century Companies Inc. now owns 536,851 shares of the company's stock worth $41,364,000 after purchasing an additional 51,564 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Weis Markets by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 424,476 shares of the company's stock worth $32,706,000 after purchasing an additional 4,200 shares during the period. Northern Trust Corp boosted its stake in Weis Markets by 9.1% in the 4th quarter. Northern Trust Corp now owns 166,968 shares of the company's stock worth $11,307,000 after purchasing an additional 13,887 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in Weis Markets by 7.8% in the 1st quarter. Allianz Asset Management GmbH now owns 152,837 shares of the company's stock worth $11,776,000 after purchasing an additional 11,017 shares during the period.

Weis Markets Stock Up 1.0%

WMK traded up $0.75 during trading on Friday, reaching $72.98. The company had a trading volume of 98,185 shares, compared to its average volume of 120,860. The stock has a market cap of $1.81 billion, a P/E ratio of 18.16 and a beta of 0.49. The business has a 50 day simple moving average of $73.61 and a 200-day simple moving average of $76.34. Weis Markets, Inc. has a 52 week low of $62.25 and a 52 week high of $90.23.

Weis Markets (NYSE:WMK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.01 earnings per share (EPS) for the quarter. The company 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 company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, July 28th were paid a dividend of $0.34 per share. The ex-dividend date was Monday, July 28th. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. Weis Markets's dividend payout ratio (DPR) is currently 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.