Empowered Funds LLC Buys New Stake in Weis Markets, Inc. $WMK

Key Points

• Empowered Funds LLC acquired 105,011 Weis Markets shares worth approximately $8.2 million, representing 0.42% of the company. Several other institutional investors also increased or initiated positions.
• Weiss Ratings upgraded Weis Markets from “buy (b-)” to “buy (b),” while MarketBeat reports a consensus “Buy” rating from the covered analyst.
• Weis Markets reported quarterly EPS of $0.92 on $1.28 billion in revenue and declared a $0.34 quarterly dividend, equivalent to a $1.36 annualized payout and a 1.9% yield.

Empowered Funds LLC bought a new stake in Weis Markets, Inc. (NYSE:WMK - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 105,011 shares of the company's stock, valued at approximately $8,223,000. Empowered Funds LLC owned 0.42% of Weis Markets as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WMK. EverSource Wealth Advisors LLC lifted its stake in Weis Markets by 107.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company's stock worth $26,000 after acquiring an additional 184 shares in the last quarter. Versant Capital Management Inc grew its position in Weis Markets by 788.6% in the 2nd quarter. Versant Capital Management Inc now owns 391 shares of the company's stock valued at $31,000 after acquiring an additional 347 shares in the last quarter. Torren Management LLC purchased a new stake in Weis Markets during the fourth quarter worth about $26,000. GAMMA Investing LLC lifted its position in shares of Weis Markets by 45.9% during the second quarter. GAMMA Investing LLC now owns 461 shares of the company's stock worth $36,000 after purchasing an additional 145 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Weis Markets during the second quarter worth about $55,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Weis Markets from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 13th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Weis Markets presently has a consensus rating of "Buy".

• Waste Management NYSE: WM Turning Trash Into Cash

Weis Markets Stock Up 1.0%

Shares of NYSE WMK opened at $71.19 on Friday. The stock has a market cap of $1.76 billion, a PE ratio of 17.67 and a beta of 0.45. Weis Markets, Inc. has a 52-week low of $59.99 and a 52-week high of $83.74. The business has a 50-day moving average price of $75.88 and a 200 day moving average price of $72.74.

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

Weis Markets (NYSE:WMK - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.92 EPS for the quarter. Weis Markets had a net margin of 1.99% and a return on equity of 7.40%. The firm had revenue of $1.28 billion during the quarter.

Weis Markets Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, July 27th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, July 27th. Weis Markets's payout ratio is 33.75%.

About Weis Markets

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source