Integrated Wealth Concepts LLC Purchases New Shares in Weis Markets, Inc. $WMK

Key Points

• Integrated Wealth Concepts LLC purchased 51,159 Weis Markets shares during the second quarter, valued at approximately $4.0 million and representing about 0.21% of the company.
• Several institutional investors increased their exposure, including BlackRock, California State Teachers Retirement System, Bank of New York Mellon, Arrowstreet Capital and Millennium Management.
• Weis Markets reported quarterly EPS of $0.92 on $1.28 billion in revenue and maintains a quarterly dividend of $0.34 per share, or $1.36 annualized, yielding about 1.9%.

Integrated Wealth Concepts LLC purchased a new position in shares of Weis Markets, Inc. (NYSE:WMK - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 51,159 shares of the company's stock, valued at approximately $4,006,000. Integrated Wealth Concepts LLC owned about 0.21% of Weis Markets as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Weis Markets during the 2nd quarter worth approximately $95,417,000. California State Teachers Retirement System increased its position in shares of Weis Markets by 8,386.8% during the second quarter. California State Teachers Retirement System now owns 1,073,239 shares of the company's stock valued at $84,045,000 after acquiring an additional 1,060,593 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Weis Markets during the second quarter valued at approximately $21,131,000. Arrowstreet Capital Limited Partnership lifted its holdings in Weis Markets by 2,228.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 171,930 shares of the company's stock worth $11,758,000 after acquiring an additional 164,546 shares during the period. Finally, Millennium Management LLC lifted its holdings in Weis Markets by 77.2% during the third quarter. Millennium Management LLC now owns 257,715 shares of the company's stock worth $18,522,000 after acquiring an additional 112,265 shares during the period.

Weis Markets Stock Up 1.3%

WMK opened at $72.10 on Friday. Weis Markets, Inc. has a twelve month low of $59.99 and a twelve month high of $83.74. The company's 50-day moving average price is $74.22 and its two-hundred day moving average price is $72.59. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 17.89 and a beta of 0.43.

• Waste Management NYSE: WM Turning Trash Into Cash

Weis Markets (NYSE:WMK - Get Free Report) last issued its quarterly earnings results 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 1.99% and a return on equity of 7.40%.

Weis Markets Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, July 27th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, July 27th. Weis Markets's dividend payout ratio (DPR) is currently 33.75%.

Analyst Upgrades and Downgrades

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

Separately, Weiss Ratings downgraded Weis Markets from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, August 31st. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy".

About Weis Markets

Weis Markets, Inc is a food retailer that operates supermarkets under the Weis Markets name. The company sells a broad selection of grocery products, including fresh produce, meat and seafood, dairy items, bakery goods, prepared foods, packaged foods, beverages and household products. Many locations also offer pharmacies, fuel stations and other convenience services.

Founded in 1912 by brothers Harry and Sigmund Weis in Sunbury, Pennsylvania, the company has grown from a regional grocery business into a supermarket operator serving communities primarily in Pennsylvania, Maryland, Delaware, New Jersey, West Virginia and Virginia.

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