Weis Markets (NYSE:WMK) Shares Pass Below 200-Day Moving Average - Here's Why

Key Points

• Weis Markets shares fell below their 200-day moving average of $72.79, trading as low as $70.41 before ending at $71.57.
• Despite the technical weakness, Weiss Ratings upgraded Weis Markets from “hold” to “buy,” and the stock has an average analyst rating of “Buy.”
• The company reported quarterly EPS of $0.92 on revenue of $1.28 billion and maintains a quarterly dividend of $0.34, equivalent to a 1.9% yield.

Weis Markets, Inc. (NYSE:WMK - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $72.79 and traded as low as $70.41. Weis Markets shares last traded at $71.57, with a volume of 149,024 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Weis Markets from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Weis Markets currently has an average rating of "Buy".

Weis Markets Trading Up 0.7%

• Waste Management NYSE: WM Turning Trash Into Cash

The firm's 50-day moving average price is $77.90 and its 200 day moving average price is $72.79. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 17.76 and a beta of 0.45.

Weis Markets (NYSE:WMK - Get Free Report) last released its 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 for the quarter. Weis Markets had a net margin of 1.99% and a return on equity of 7.45%.

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 paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, July 27th. Weis Markets's payout ratio is 33.75%.

Hedge Funds Weigh In On Weis Markets

A number of institutional investors and hedge funds have recently made changes to their positions in WMK. GAMMA Investing LLC grew its position in Weis Markets by 45.9% in the 2nd quarter. GAMMA Investing LLC now owns 461 shares of the company's stock valued at $36,000 after purchasing an additional 145 shares during the period. Royal Bank of Canada increased its stake 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Weis Markets by 107.0% during the second quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company's stock worth $26,000 after buying an additional 184 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Weis Markets by 16.4% during the second 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. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Weis Markets by 4.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 6,876 shares of the company's stock valued at $500,000 after buying an additional 284 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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