Weis Markets (NYSE:WMK) Announces Earnings Results

Key Points

• Weis Markets reported $1.13 EPS on $1.26 billion in revenue for the quarter, with a net margin of 1.96% and a return on equity of 7.09%.
• The company declared a quarterly dividend of $0.34 per share (annualized $1.36) payable May 26 to shareholders of record May 11, implying a yield of 1.9%.
• Shares fell about 1.2% to $70.76 (market cap ≈ $1.75B, P/E ~18.9); analysts maintain a consensus Hold rating after Weiss Ratings reissued a "hold (c)."

Weis Markets (NYSE:WMK - Get Free Report) posted its earnings results on Wednesday. The company reported $1.13 earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $1.26 billion during the quarter. Weis Markets had a net margin of 1.96% and a return on equity of 7.09%.

Weis Markets Trading Down 1.2%

Weis Markets stock traded down $0.88 during midday trading on Thursday, reaching $70.76. 187,175 shares of the stock traded hands, compared to its average volume of 137,503. The firm has a fifty day moving average price of $68.21 and a two-hundred day moving average price of $67.83. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 18.87 and a beta of 0.46. Weis Markets has a fifty-two week low of $59.99 and a fifty-two week high of $88.53.

Weis Markets Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, May 11th. Weis Markets's payout ratio is presently 36.27%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Weis Markets in a research note on Friday, April 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold".

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Weis Markets by 17.5% during the 1st quarter. Royal Bank of Canada now owns 8,120 shares of the company's stock worth $626,000 after buying an additional 1,212 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Weis Markets by 9.2% during the 1st quarter. AQR Capital Management LLC now owns 14,798 shares of the company's stock worth $1,140,000 after buying an additional 1,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Weis Markets by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,775 shares of the company's stock worth $753,000 after buying an additional 405 shares in the last quarter. Norges Bank bought a new stake in shares of Weis Markets during the 2nd quarter worth about $714,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Weis Markets by 107.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company's stock worth $26,000 after buying an additional 184 shares in the last quarter.

Weis Markets Company Profile

Weis Markets, Inc NYSE: WMK is a regional supermarket chain headquartered in Sunbury, Pennsylvania, operating more than 200 stores across the Mid-Atlantic and Eastern Seaboard. Founded in 1912 by Harry and Sigmund Weis as a small produce and egg business, the company has grown into a full-service grocer serving Pennsylvania, Maryland, New York, New Jersey, Delaware, Virginia, West Virginia and Ohio. Weis Markets offers a broad selection of products including fresh produce, bakery, deli, dairy, meat and seafood, alongside grocery, general merchandise and prepared foods.

In addition to traditional grocery offerings, Weis Markets provides pharmacy services in many of its locations, as well as in-store fuel centers at select sites.

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