Weis Markets (NYSE:WMK) Share Price Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• Weis Markets shares passed above its 50-day moving average, trading as high as $71.84 versus a 50-day MA of $68.84 and last at $71.01 on volume of about 93,012 shares.
• The company has a market cap of $1.76 billion and a P/E of 18.94, reported quarterly EPS of $1.14 on $1.30 billion in revenue, and pays a quarterly dividend of $0.34 (annualized $1.36) for roughly a 1.9% yield.
• Analysts hold a consensus Hold rating (Weiss Ratings reiterated a Hold), and several institutional investors modestly increased their positions in recent quarters.

Weis Markets, Inc. (NYSE:WMK - Get Free Report) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $68.84 and traded as high as $71.84. Weis Markets shares last traded at $71.01, with a volume of 93,012 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Weis Markets in a report on Tuesday, January 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold".

Weis Markets Stock Performance

The business has a 50 day moving average price of $68.84 and a two-hundred day moving average price of $67.80. The company has a market cap of $1.76 billion, a P/E ratio of 18.94 and a beta of 0.44.

Weis Markets (NYSE:WMK - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported $1.14 EPS for the quarter. The business had revenue of $1.30 billion during the quarter. Weis Markets had a return on equity of 7.09% and a net margin of 1.96%.

Weis Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.36 dividend on an annualized basis and a yield of 1.9%. Weis Markets's dividend payout ratio is presently 36.27%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in Weis Markets by 6.5% during the 4th quarter. Royal Bank of Canada now owns 2,528 shares of the company's stock valued at $162,000 after purchasing an additional 155 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 184 shares during the last quarter. Martin & Co. Inc. TN raised its position in Weis Markets by 0.7% during the 3rd quarter. Martin & Co. Inc. TN now owns 28,686 shares of the company's stock valued at $2,062,000 after purchasing an additional 204 shares during the last quarter. Osaic Holdings Inc. raised its position in Weis Markets by 16.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,591 shares of the company's stock valued at $115,000 after purchasing an additional 224 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in Weis Markets by 6.2% during the 4th quarter. Rafferty Asset Management LLC now owns 4,847 shares of the company's stock valued at $311,000 after purchasing an additional 284 shares during the last quarter.

About Weis Markets

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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