Cannon Global Investment Management LLC Takes Position in Weis Markets, Inc. $WMK

Key Points

• Cannon Global Investment Management LLC acquired a new stake in Weis Markets, purchasing 4,200 shares valued at approximately $304,000 during the second quarter.
• Several hedge funds, including Allianz Asset Management and Vest Financial, have increased their positions in Weis Markets, reflecting growing investor confidence in the company.
• Weis Markets' stock shows a market cap of $1.71 billion and has a current price of $69.07, with a price-to-earnings ratio of 17.18.

Cannon Global Investment Management LLC purchased a new stake in Weis Markets, Inc. (NYSE:WMK - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,200 shares of the company's stock, valued at approximately $304,000.

Several other hedge funds also recently made changes to their positions in the stock. Allianz Asset Management GmbH grew its position in shares of Weis Markets by 9.5% in the second quarter. Allianz Asset Management GmbH now owns 167,413 shares of the company's stock valued at $12,136,000 after purchasing an additional 14,576 shares in the last quarter. Vest Financial LLC grew its position in shares of Weis Markets by 24.9% in the second quarter. Vest Financial LLC now owns 14,034 shares of the company's stock valued at $1,017,000 after purchasing an additional 2,802 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Weis Markets by 5.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,378 shares of the company's stock valued at $317,000 after purchasing an additional 238 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Weis Markets in the second quarter valued at $8,748,000. Finally, SummerHaven Investment Management LLC grew its position in shares of Weis Markets by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 12,560 shares of the company's stock valued at $910,000 after purchasing an additional 167 shares in the last quarter.

Weis Markets Stock Up 0.6%

Weis Markets stock opened at $69.07 on Friday. Weis Markets, Inc. has a 52 week low of $62.25 and a 52 week high of $90.23. The business has a 50-day simple moving average of $71.18 and a 200 day simple moving average of $75.10. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 17.18 and a beta of 0.48.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Weis Markets in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Weis Markets Company 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.

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