Weis Markets (NYSE:WMK) Shares Break Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Weis Markets shares fell below their 200-day moving average of $73.40, reaching $72.16 and last trading around $72.52. The stock was down approximately 2.0%.
• Weiss Ratings downgraded the company from “buy (b)” to “buy (b-)”, while the broader analyst consensus remained “Buy.”
• The company reported quarterly earnings of $0.92 per share on $1.28 billion in revenue and maintains a quarterly dividend of $0.34 per share, equivalent to a 1.9% yield.

Weis Markets, Inc. (NYSE:WMK - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $73.40 and traded as low as $72.16. Weis Markets shares last traded at $72.5220, with a volume of 173,953 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Weis Markets from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, August 31st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy".

Weis Markets Stock Down 2.0%

• Waste Management NYSE: WM Turning Trash Into Cash

The company has a market cap of $1.79 billion, a P/E ratio of 18.00 and a beta of 0.40. The company has a 50 day moving average price of $72.54 and a 200-day moving average price of $73.40.

Weis Markets (NYSE:WMK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.92 earnings per share for the quarter. The business had revenue of $1.28 billion for the quarter. Weis Markets had a net margin of 1.99% and a return on equity of 7.40%.

Weis Markets Dividend Announcement

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

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, July 27th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, July 27th. Weis Markets's payout ratio is 33.75%.

Institutional Trading of Weis Markets

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Weis Markets during the second quarter worth approximately $95,417,000. Bank of New York Mellon Corp bought a new position in Weis Markets during the 2nd quarter valued at $21,131,000. Arrowstreet Capital Limited Partnership increased its position 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 period. Empowered Funds LLC acquired a new position in shares of Weis Markets during the 2nd quarter valued at $8,223,000. Finally, Bank of America Corp DE raised its stake in shares of Weis Markets by 69.3% in the 1st quarter. Bank of America Corp DE now owns 72,810 shares of the company's stock worth $4,979,000 after buying an additional 29,806 shares in the last quarter.

Weis Markets Company Profile

Weis Markets, Inc is a regional food retailer headquartered in Sunbury, Pennsylvania. The company operates supermarkets offering a broad selection of groceries and household products, including fresh produce, meat and seafood, dairy and frozen foods, bakery items, deli products, prepared foods, and beer and wine where permitted by law.

Many Weis Markets locations also provide additional services such as pharmacies, fuel centers, online grocery ordering, and curbside pickup or delivery.

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