Edgestream Partners L.P. Sells 17,616 Shares of Weis Markets, Inc. $WMK

Key Points

• Edgestream Partners L.P. reduced its Weis Markets stake by 33.4% in the first quarter, selling 17,616 shares and retaining 35,175 shares worth approximately $2.4 million.
• Weiss Ratings upgraded Weis Markets from “hold (C+)” to “buy (B-),” giving the stock a consensus “Buy” rating based on MarketBeat data.
• Weis Markets reported quarterly revenue of $1.26 billion and EPS of $1.13, while declaring a $0.34 quarterly dividend, equivalent to a 1.8% yield and $1.36 annualized payout.

Edgestream Partners L.P. trimmed its holdings in shares of Weis Markets, Inc. (NYSE:WMK - Free Report) by 33.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,175 shares of the company's stock after selling 17,616 shares during the period. Edgestream Partners L.P. owned approximately 0.14% of Weis Markets worth $2,406,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Weis Markets by 107.0% during the second quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company's stock valued at $26,000 after purchasing an additional 184 shares in the last quarter. Torren Management LLC purchased a new position in Weis Markets in the 4th quarter worth about $26,000. Raymond James Financial Inc. bought a new position in Weis Markets during the 2nd quarter valued at about $55,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Weis Markets by 78.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 772 shares of the company's stock valued at $49,000 after acquiring an additional 340 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Weis Markets by 61.2% in the fourth quarter. Signaturefd LLC now owns 882 shares of the company's stock worth $57,000 after acquiring an additional 335 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Weis Markets from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

• Waste Management NYSE: WM Turning Trash Into Cash

Weis Markets Stock Performance

Weis Markets stock opened at $77.36 on Monday. Weis Markets, Inc. has a one year low of $59.99 and a one year high of $83.74. The stock has a fifty day moving average of $77.71 and a 200 day moving average of $72.44. The stock has a market cap of $1.91 billion, a PE ratio of 18.78 and a beta of 0.45.

• Put Weis Markets NYSE: WMK Stock on Your Shopping List at These Levels

Weis Markets (NYSE:WMK - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.13 earnings per share (EPS) for the quarter. Weis Markets had a return on equity of 7.75% and a net margin of 2.09%.The business had revenue of $1.26 billion for the quarter.

Weis Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, July 27th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, July 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.8%. Weis Markets's dividend payout ratio (DPR) is presently 33.01%.

Weis Markets Profile

Weis Markets, Inc NYSE: WMK is a regional supermarket chain headquartered in Sunbury, Pennsylvania, operating more than 200 stores across the Mid-Atlantic and Eastern Seaboard. Founded in 1912 by Harry and Sigmund Weis as a small produce and egg business, the company has grown into a full-service grocer serving Pennsylvania, Maryland, New York, New Jersey, Delaware, Virginia, West Virginia and Ohio. Weis Markets offers a broad selection of products including fresh produce, bakery, deli, dairy, meat and seafood, alongside grocery, general merchandise and prepared foods.

In addition to traditional grocery offerings, Weis Markets provides pharmacy services in many of its locations, as well as in-store fuel centers at select sites.

Want to see what other hedge funds are holding WMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weis Markets, Inc. (NYSE:WMK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.