Weis Markets, Inc. (NYSE:WMK) Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. reduced its stake in Weis Markets, Inc. by 17% in Q1 2023, selling 4,471 shares to hold a total of 21,871 shares valued at approximately $1.69 million.
• Weis Markets' stock was recently downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating, reflecting a change in analyst sentiment.
• The company declared a quarterly dividend of $0.34, with an annualized dividend yield of 1.85%, set to be paid on August 11th to shareholders on record as of July 28th.

Victory Capital Management Inc. lowered its position in shares of Weis Markets, Inc. (NYSE:WMK - Free Report) by 17.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,871 shares of the company's stock after selling 4,471 shares during the period. Victory Capital Management Inc. owned about 0.08% of Weis Markets worth $1,685,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Bridgeway Capital Management LLC lifted its position in Weis Markets by 259.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 72,233 shares of the company's stock valued at $4,892,000 after acquiring an additional 52,134 shares during the period. Norges Bank purchased a new position in Weis Markets during the 4th quarter valued at about $3,418,000. Vanguard Group Inc. lifted its position in Weis Markets by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 1,842,882 shares of the company's stock valued at $124,800,000 after acquiring an additional 30,772 shares during the period. ExodusPoint Capital Management LP purchased a new position in Weis Markets during the 4th quarter valued at about $1,502,000. Finally, JPMorgan Chase & Co. lifted its position in Weis Markets by 62.5% during the 4th quarter. JPMorgan Chase & Co. now owns 54,952 shares of the company's stock valued at $3,721,000 after acquiring an additional 21,144 shares during the period.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Weis Markets from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 8th.

Weis Markets Stock Performance

Shares of WMK traded up $0.09 during mid-day trading on Friday, reaching $72.50. The stock had a trading volume of 112,204 shares, compared to its average volume of 101,928. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 18.17 and a beta of 0.47. Weis Markets, Inc. has a 12 month low of $62.25 and a 12 month high of $90.23. The business has a fifty day moving average of $74.98 and a 200 day moving average of $75.70.

Weis Markets (NYSE:WMK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter. Weis Markets had a net margin of 2.24% and a return on equity of 7.49%. The company had revenue of $1.20 billion for the quarter.

Weis Markets Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, July 28th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, July 28th. Weis Markets's dividend payout ratio is presently 34.09%.

Weis Markets Company Profile

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.