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

Key Points

• Weis Markets shares fell below their 200-day moving average of $72.92, reaching an intraday low of $71.41 before trading near $72.16.
• The stock retains an overall “Buy” consensus, although Weiss Ratings recently downgraded it slightly from “buy (b)” to “buy (b-).”
• Weis Markets reported quarterly EPS of $0.92 on $1.28 billion in revenue and pays a quarterly dividend of $0.34 per share, equal to a 1.9% yield and a 33.75% payout ratio.

Weis Markets, Inc. (NYSE:WMK - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $72.92 and traded as low as $71.41. Weis Markets shares last traded at $72.1620, with a volume of 137,904 shares.

Analyst Upgrades and Downgrades

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

Weis Markets Stock Down 0.2%

• Waste Management NYSE: WM Turning Trash Into Cash

The company has a market capitalization of $1.79 billion, a PE ratio of 17.91 and a beta of 0.43. The stock's fifty day simple moving average is $72.94 and its 200-day simple moving average is $72.92.

Weis Markets (NYSE:WMK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.92 earnings per share (EPS) for the quarter. The company had revenue of $1.28 billion during 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 company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, July 27th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, July 27th. This represents a $1.36 annualized dividend and a yield of 1.9%. Weis Markets's payout ratio is currently 33.75%.

Institutional Trading of Weis Markets

A number of institutional investors have recently bought and sold shares of WMK. Engineers Gate Manager LP grew its position in shares of Weis Markets by 375.9% in the second quarter. Engineers Gate Manager LP now owns 16,138 shares of the company's stock valued at $1,264,000 after purchasing an additional 12,747 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Weis Markets during the 2nd quarter worth approximately $4,006,000. Squarepoint Ops LLC acquired a new position in shares of Weis Markets during the 2nd quarter worth approximately $1,365,000. Hsbc Holdings PLC raised its position in shares of Weis Markets by 41.8% during the 2nd quarter. Hsbc Holdings PLC now owns 17,375 shares of the company's stock worth $1,368,000 after purchasing an additional 5,119 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Weis Markets during the 2nd quarter worth approximately $8,223,000.

Weis Markets Company Profile

Weis Markets, Inc is a food retailer that operates supermarkets under the Weis Markets name. The company sells a broad selection of grocery products, including fresh produce, meat and seafood, dairy items, bakery goods, prepared foods, packaged foods, beverages and household products. Many locations also offer pharmacies, fuel stations and other convenience services.

Founded in 1912 by brothers Harry and Sigmund Weis in Sunbury, Pennsylvania, the company has grown from a regional grocery business into a supermarket operator serving communities primarily in Pennsylvania, Maryland, Delaware, New Jersey, West Virginia and Virginia.

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