Victory Capital Management Inc. Sells 4,471 Shares of Weis Markets, Inc. (NYSE:WMK)

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. decreased its holdings 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 and Exchange Commission (SEC). The fund owned 21,871 shares of the company's stock after selling 4,471 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Weis Markets worth $1,685,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of Weis Markets in the fourth quarter worth $718,000. Vanguard Group Inc. increased its position in shares of Weis Markets by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 1,842,882 shares of the company's stock worth $124,800,000 after purchasing an additional 30,772 shares during the period. JPMorgan Chase & Co. increased its position in shares of Weis Markets by 62.5% in the fourth quarter. JPMorgan Chase & Co. now owns 54,952 shares of the company's stock worth $3,721,000 after purchasing an additional 21,144 shares during the period. Norges Bank bought a new position in shares of Weis Markets in the fourth quarter worth $3,418,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Weis Markets by 19.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,693 shares of the company's stock worth $453,000 after purchasing an additional 1,111 shares during the period.

Analysts Set New Price Targets

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

Weis Markets Stock Performance

Shares of NYSE WMK traded up $0.09 during mid-day trading on Friday, reaching $72.50. The company had a trading volume of 112,204 shares, compared to its average volume of 101,928. Weis Markets, Inc. has a one year low of $62.25 and a one year high of $90.23. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 18.17 and a beta of 0.47. The business's 50-day simple moving average is $74.98 and its 200 day simple moving average is $75.64.

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

Weis Markets Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders 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 dividend yield of 1.9%. The ex-dividend date is Monday, July 28th. Weis Markets's payout ratio is 34.09%.

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.