GSA Capital Partners LLP Lowers Stake in Weis Markets, Inc. (NYSE:WMK)

Key Points

• GSA Capital Partners LLP has reduced its holdings in Weis Markets, Inc. by 56.8%, owning 9,605 shares after selling 12,615 shares in the first quarter.
• Weis Markets reported $0.76 earnings per share and a revenue of $1.20 billion for the last quarter, alongside declaring a quarterly dividend of $0.34.
• Analysts have downgraded Weis Markets from a "strong-buy" to a "buy" rating, reflecting changing opinions on the stock's potential.

GSA Capital Partners LLP reduced its position in shares of Weis Markets, Inc. (NYSE:WMK - Free Report) by 56.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,605 shares of the company's stock after selling 12,615 shares during the period. GSA Capital Partners LLP's holdings in Weis Markets were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in WMK. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Weis Markets during the 1st quarter worth $2,562,000. Allianz Asset Management GmbH raised its stake in shares of Weis Markets by 7.8% in the first quarter. Allianz Asset Management GmbH now owns 152,837 shares of the company's stock worth $11,776,000 after purchasing an additional 11,017 shares during the last quarter. Denali Advisors LLC raised its stake in shares of Weis Markets by 0.8% in the first quarter. Denali Advisors LLC now owns 38,219 shares of the company's stock worth $2,945,000 after purchasing an additional 319 shares during the last quarter. Alps Advisors Inc. grew its holdings in Weis Markets by 7.9% during the first quarter. Alps Advisors Inc. now owns 15,703 shares of the company's stock valued at $1,210,000 after purchasing an additional 1,156 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of Weis Markets by 1.4% in the first quarter. Diversified Trust Co now owns 9,129 shares of the company's stock worth $703,000 after acquiring an additional 122 shares during the period.

Weis Markets Trading Up 3.0%

Weis Markets stock traded up $2.06 during trading on Wednesday, reaching $71.40. The company had a trading volume of 62,004 shares, compared to its average volume of 120,491. The firm's 50-day simple moving average is $74.79 and its 200 day simple moving average is $75.75. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 17.95 and a beta of 0.47. Weis Markets, Inc. has a 52 week low of $62.25 and a 52 week high of $90.23.

Weis Markets (NYSE:WMK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.01 EPS for the quarter. Weis Markets had a return on equity of 7.49% and a net margin of 2.24%.

Weis Markets Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.