Weis Markets' (WMK) "Hold (C+)" Rating Reiterated at Weiss Ratings

Key Points

• Weis Markets' stock received a "strong hold (C+)" rating from Weiss Ratings, reflecting ongoing investor caution.
• The company reported a quarterly revenue of $1.21 billion with earnings per share of $1.01, alongside a net margin of 2.23% and a return on equity of 7.60%.
• Hedge funds have shown increased interest in Weis Markets, with multiple firms significantly raising their stakes in the previous quarters.

Weis Markets (NYSE:WMK - Get Free Report)'s stock had its "hold (c+)" rating restated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Weis Markets Trading Up 0.8%

Shares of WMK traded up $0.52 during mid-day trading on Wednesday, hitting $69.23. The company's stock had a trading volume of 45,977 shares, compared to its average volume of 132,620. The company's 50-day moving average is $71.67 and its 200-day moving average is $75.52. Weis Markets has a 52-week low of $62.25 and a 52-week high of $90.23. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 17.22 and a beta of 0.48.

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

Hedge Funds Weigh In On Weis Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in shares of Weis Markets by 107.0% in the second 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 last quarter. Fifth Third Bancorp acquired a new stake in shares of Weis Markets in the first quarter valued at about $58,000. Raymond James Financial Inc. acquired a new stake in shares of Weis Markets in the second quarter valued at about $55,000. Tower Research Capital LLC TRC raised its position in shares of Weis Markets by 138.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,330 shares of the company's stock valued at $96,000 after buying an additional 773 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in shares of Weis Markets by 16.4% in the second quarter. Osaic Holdings Inc. now owns 1,591 shares of the company's stock valued at $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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