Hennessy Advisors Inc. Makes New $8.75 Million Investment in Weis Markets, Inc. $WMK

Key Points

• Hennessy Advisors Inc. invested approximately $8.75 million in Weis Markets, acquiring 120,679 shares, which represents around 0.45% ownership of the company.
• Weis Markets reported a quarterly revenue of $1.21 billion and an EPS of $1.01, with a net margin of 2.23%.
• The company recently announced a quarterly dividend of $0.34 per share, resulting in an annual yield of 1.9%.

Hennessy Advisors Inc. acquired a new position in shares of Weis Markets, Inc. (NYSE:WMK - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 120,679 shares of the company's stock, valued at approximately $8,748,000. Hennessy Advisors Inc. owned approximately 0.45% of Weis Markets as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vest Financial LLC acquired a new stake in Weis Markets during the first quarter worth about $865,000. GAMMA Investing LLC grew its stake in Weis Markets by 8,730.3% during the first quarter. GAMMA Investing LLC now owns 15,718 shares of the company's stock worth $1,211,000 after buying an additional 15,540 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Weis Markets during the first quarter worth about $713,000. Jump Financial LLC acquired a new stake in shares of Weis Markets in the 1st quarter valued at approximately $536,000. Finally, Virtu Financial LLC acquired a new stake in shares of Weis Markets in the 1st quarter valued at approximately $341,000.

Weis Markets Price Performance

NYSE:WMK opened at $73.05 on Friday. The firm's 50 day simple moving average is $71.84 and its 200 day simple moving average is $75.67. Weis Markets, Inc. has a one year low of $62.25 and a one year high of $90.23. The company has a market cap of $1.81 billion, a PE ratio of 18.17 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 net margin of 2.23% and a return on equity of 7.60%. The business had revenue of $1.21 billion for the quarter.

Weis Markets Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, July 28th were given a dividend of $0.34 per share. The ex-dividend date was Monday, July 28th. This represents a $1.36 annualized dividend and a yield of 1.9%. Weis Markets's dividend payout ratio (DPR) is currently 33.83%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Weis Markets in a research note on Saturday, September 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold".

About Weis Markets

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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