Charles Schwab Investment Management Inc. Buys 4,200 Shares of Weis Markets, Inc. $WMK

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Weis Markets, Inc. by 1.0%, holding 424,476 shares valued at approximately $32.71 million as of the latest reporting period.
• Weis Markets recently faced a downgrade from a "strong-buy" to a "buy" rating by Wall Street Zen, indicating a shift in analyst sentiment.
• The company reported $1.01 EPS and revenues of $1.21 billion for its latest quarter, with a dividend yield of 1.9%.

Charles Schwab Investment Management Inc. boosted its position in Weis Markets, Inc. (NYSE:WMK - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 424,476 shares of the company's stock after buying an additional 4,200 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.58% of Weis Markets worth $32,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in shares of Weis Markets by 826.3% during the fourth quarter. Sterling Capital Management LLC now owns 528 shares of the company's stock valued at $36,000 after purchasing an additional 471 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Weis Markets during the first quarter valued at approximately $58,000. State of Wyoming purchased a new stake in shares of Weis Markets during the fourth quarter valued at approximately $104,000. Exchange Traded Concepts LLC boosted its stake in shares of Weis Markets by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,079 shares of the company's stock valued at $160,000 after purchasing an additional 1,926 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Weis Markets by 12.5% during the first quarter. Flagship Harbor Advisors LLC now owns 3,404 shares of the company's stock valued at $262,000 after purchasing an additional 379 shares during the period.

Weis Markets Stock Performance

Shares of Weis Markets stock traded down $0.0760 during midday trading on Wednesday, reaching $71.3640. 94,795 shares of the company's stock traded hands, compared to its average volume of 129,119. The company has a market cap of $1.77 billion, a PE ratio of 17.75 and a beta of 0.47. The stock has a 50 day moving average of $73.87 and a 200-day moving average of $76.10. Weis Markets, Inc. has a 12 month low of $62.25 and a 12 month high of $90.23.

Weis Markets (NYSE:WMK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.01 earnings per share (EPS) 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, July 28th were issued 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 is 33.83%.

Analysts Set New Price Targets

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

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.