First Trust Advisors LP Buys 22,286 Shares of Weis Markets, Inc. $WMK

Key Points

• First Trust Advisors increased its Weis Markets stake by 50.2% in the first quarter, acquiring 22,286 additional shares and bringing its holdings to 66,657 shares valued at approximately $4.56 million.
• Institutional interest broadly strengthened, with Royal Bank of Canada, AQR Capital Management, MIRAE ASSET GLOBAL ETFs, Norges Bank and EverSource Wealth Advisors also adding to or initiating positions. Weiss Ratings upgraded the stock from “hold” to “buy,” while MarketBeat reports an average rating of “Buy.”
• Weis Markets reported quarterly EPS of $0.92 on $1.28 billion in revenue and declared a quarterly dividend of $0.34 per share, equivalent to a $1.36 annualized payout and a 1.7% yield.

First Trust Advisors LP lifted its stake in shares of Weis Markets, Inc. (NYSE:WMK - Free Report) by 50.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 66,657 shares of the company's stock after acquiring an additional 22,286 shares during the period. First Trust Advisors LP owned approximately 0.27% of Weis Markets worth $4,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WMK. Royal Bank of Canada increased its stake in Weis Markets by 17.5% in the first quarter. Royal Bank of Canada now owns 8,120 shares of the company's stock valued at $626,000 after acquiring an additional 1,212 shares during the last quarter. AQR Capital Management LLC raised its position in Weis Markets by 9.2% during the first quarter. AQR Capital Management LLC now owns 14,798 shares of the company's stock valued at $1,140,000 after purchasing an additional 1,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Weis Markets by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,775 shares of the company's stock worth $753,000 after purchasing an additional 405 shares during the last quarter. Norges Bank bought a new stake in Weis Markets during the second quarter worth about $714,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Weis Markets by 107.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company's stock worth $26,000 after purchasing an additional 184 shares in the last quarter.

Analyst Upgrades and Downgrades

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

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Weis Markets Stock Performance

WMK stock opened at $78.27 on Wednesday. The company has a market capitalization of $1.94 billion, a PE ratio of 19.00 and a beta of 0.45. Weis Markets, Inc. has a one year low of $59.99 and a one year high of $83.74. The company's 50 day moving average price is $77.97 and its two-hundred day moving average price is $72.59.

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

Weis Markets (NYSE:WMK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.92 earnings per share (EPS) for the quarter. The company had revenue of $1.28 billion during the quarter. Weis Markets had a net margin of 2.09% and a return on equity of 7.75%.

Weis Markets Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, July 27th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, July 27th. Weis Markets's dividend payout ratio is presently 33.01%.

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.

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