Goldman Sachs Group Inc. Sells 52,167 Shares of Weis Markets, Inc. $WMK

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Weis Markets, Inc. by 35.9%, selling 52,167 shares, resulting in ownership of about 0.35% of the company valued at $7.2 million.
• Weis Markets reported a quarterly earnings per share (EPS) of $1.01 with revenue of $1.21 billion and a net margin of 2.23%.
• The company has announced a quarterly dividend of $0.34, yielding 1.9%, with a current payout ratio of 33.83%.

Goldman Sachs Group Inc. lessened its holdings in Weis Markets, Inc. (NYSE:WMK - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,279 shares of the company's stock after selling 52,167 shares during the period. Goldman Sachs Group Inc. owned 0.35% of Weis Markets worth $7,187,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp acquired a new stake in shares of Weis Markets in the 1st quarter valued at $58,000. State of Wyoming acquired a new position in Weis Markets during the 4th quarter worth $104,000. Exchange Traded Concepts LLC lifted its position in Weis Markets by 1,258.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,079 shares of the company's stock worth $160,000 after acquiring an additional 1,926 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in Weis Markets by 12.5% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,404 shares of the company's stock worth $262,000 after acquiring an additional 379 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in Weis Markets during the 4th quarter worth $309,000.

Weis Markets Trading Down 1.9%

Weis Markets stock traded down $1.40 on Friday, reaching $70.72. 54,307 shares of the stock were exchanged, compared to its average volume of 124,178. The stock has a market cap of $1.75 billion, a PE ratio of 17.59 and a beta of 0.49. Weis Markets, Inc. has a twelve month low of $62.25 and a twelve month high of $90.23. The firm has a fifty day moving average price of $72.94 and a two-hundred day moving average price of $76.18.

Weis Markets (NYSE:WMK - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.01 earnings per share for the quarter. Weis Markets had a net margin of 2.23% and a return on equity of 7.60%. The firm had revenue of $1.21 billion during the quarter.

Weis Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, July 28th were issued a dividend of $0.34 per share. The ex-dividend date was Monday, July 28th. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. Weis Markets's payout ratio is presently 33.83%.

Weis Markets 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.