Weis Markets (NYSE:WMK) Stock Passes Above 50 Day Moving Average - Here's Why

Key Points

• Stock briefly crossed above its 50-day moving average: WMK traded as high as $69.77 intraday vs. a 50-day MA of $69.11, with volume of 112,111 shares.
• The company reported $1.14 EPS on $1.30 billion in quarterly revenue, has a market cap of $1.70 billion and a P/E of 18.35, and pays a quarterly dividend of $0.34 (annual $1.36) for a ~2.0% yield.
• Analyst/institutional view: Weiss Ratings reissued a "Hold" and MarketBeat shows an overall "Hold" consensus, while several institutional investors modestly increased their WMK positions.

Weis Markets, Inc. (NYSE:WMK - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $69.11 and traded as high as $69.77. Weis Markets shares last traded at $68.8120, with a volume of 112,111 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Weis Markets in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Weis Markets has an average rating of "Hold".

Weis Markets Price Performance

The stock has a market capitalization of $1.70 billion, a P/E ratio of 18.35 and a beta of 0.44. The company's 50 day simple moving average is $69.11 and its two-hundred day simple moving average is $67.84.

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

Weis Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.0%. Weis Markets's dividend payout ratio (DPR) is 36.27%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WMK. Royal Bank of Canada raised its holdings in Weis Markets by 6.5% during the 4th quarter. Royal Bank of Canada now owns 2,528 shares of the company's stock worth $162,000 after purchasing an additional 155 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in 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 purchasing an additional 184 shares during the last quarter. Martin & Co. Inc. TN raised its holdings in Weis Markets by 0.7% during the 3rd quarter. Martin & Co. Inc. TN now owns 28,686 shares of the company's stock worth $2,062,000 after purchasing an additional 204 shares during the last quarter. Osaic Holdings Inc. raised its holdings 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 purchasing an additional 224 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Weis Markets by 4.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 6,876 shares of the company's stock worth $500,000 after purchasing an additional 284 shares during 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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