Weis Markets (NYSE:WMK) Share Price Crosses Below Two Hundred Day Moving Average - What's Next?

Key Points

• Weis Markets' stock price fell below its 200-day moving average of $75.89, trading as low as $71.19 and last being noted at $72.77.
• The company reported $1.01 earnings per share with a revenue of $1.21 billion for the most recent quarter, along with a dividend yield of 1.9%.
• Several hedge funds increased their holdings in Weis Markets, with EverSource Wealth Advisors raising its stake by 107.0% in the second quarter.

Weis Markets, Inc. (NYSE:WMK - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $75.89 and traded as low as $71.19. Weis Markets shares last traded at $72.77, with a volume of 162,475 shares traded.

Weis Markets Trading Up 1.7%

The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 18.10 and a beta of 0.49. The business has a 50 day simple moving average of $72.33 and a 200-day simple moving average of $75.89.

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

Weis Markets Dividend Announcement

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

Institutional Investors Weigh In On Weis Markets

Several hedge funds have recently modified their holdings of WMK. EverSource Wealth Advisors LLC raised its holdings 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 valued at $26,000 after buying an additional 184 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Weis Markets in the 2nd quarter valued at approximately $55,000. Fifth Third Bancorp bought a new stake in shares of Weis Markets in the 1st quarter valued at approximately $58,000. Tower Research Capital LLC TRC grew its stake in Weis Markets by 138.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,330 shares of the company's stock worth $96,000 after buying an additional 773 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in Weis Markets by 16.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,591 shares of the company's stock worth $115,000 after buying an additional 224 shares during the last quarter.

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.

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