Maverick Capital Ltd. Sells 39,261 Shares of Weis Markets, Inc. $WMK

Key Points

• Maverick Capital cut its Weis Markets position by 79.8% in the first quarter, selling 39,261 shares and retaining 9,908 shares valued at approximately $678,000.
• Institutional sentiment was mixed: Arrowstreet Capital expanded its holdings by more than 2,200%, while Quantinno, First Trust Advisors and Bank of New York Mellon also increased their positions.
• Weiss Ratings upgraded Weis Markets to “buy,” while the stock opened at $76.67. The company reported quarterly EPS of $1.13 and announced a $0.34 quarterly dividend, equivalent to a 1.8% yield.

Maverick Capital Ltd. decreased its position in shares of Weis Markets, Inc. (NYSE:WMK - Free Report) by 79.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,908 shares of the company's stock after selling 39,261 shares during the period. Maverick Capital Ltd.'s holdings in Weis Markets were worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Quantinno Capital Management LP grew its holdings in Weis Markets by 13.9% in the first quarter. Quantinno Capital Management LP now owns 12,068 shares of the company's stock worth $825,000 after purchasing an additional 1,471 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Weis Markets by 2,228.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 171,930 shares of the company's stock valued at $11,758,000 after purchasing an additional 164,546 shares during the last quarter. Inceptionr LLC acquired a new stake in shares of Weis Markets in the 1st quarter worth $249,000. First Trust Advisors LP boosted its position in shares of Weis Markets by 50.2% in the 1st quarter. First Trust Advisors LP now owns 66,657 shares of the company's stock worth $4,559,000 after purchasing an additional 22,286 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Weis Markets by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 272,212 shares of the company's stock worth $18,617,000 after buying an additional 1,700 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised 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, the company currently has a consensus rating of "Buy".

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Weis Markets Stock Up 2.6%

WMK stock opened at $76.67 on Wednesday. The stock has a market capitalization of $1.90 billion, a PE ratio of 18.61 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 firm has a 50 day moving average of $77.39 and a 200 day moving average of $72.18.

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

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

Weis Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, July 27th will be issued a dividend of $0.34 per share. 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 payout ratio is 33.01%.

Weis Markets Company 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.

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