Weis Markets (NYSE:WMK) Issues Earnings Results

Weis Markets (NYSE:WMK) released its quarterly earnings results on Tuesday. The company reported $0.92 earnings per share (EPS) for the quarter, FiscalAI reports. 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 Stock Performance

Shares of NYSE:WMK traded up $1.55 during trading on Thursday, reaching $76.21. The company had a trading volume of 66,041 shares, compared to its average volume of 149,128. The firm’s fifty day moving average is $77.98 and its 200 day moving average is $72.63. The firm has a market capitalization of $1.89 billion, a PE ratio of 18.91 and a beta of 0.45. Weis Markets has a twelve month low of $59.99 and a twelve month high of $83.74.

Weis Markets Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, July 27th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, July 27th. Weis Markets’s payout ratio is 33.75%.

Hedge Funds Weigh In On Weis Markets

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in Weis Markets during the second quarter worth about $21,131,000. State of Wyoming acquired a new position in Weis Markets in the second quarter worth approximately $230,000. GSA Capital Partners LLP acquired a new stake in shares of Weis Markets during the 2nd quarter valued at $896,000. GAMMA Investing LLC boosted its stake in shares of Weis Markets by 45.9% during the 2nd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $36,000 after acquiring an additional 145 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Weis Markets by 788.6% in the 2nd quarter. Versant Capital Management Inc now owns 391 shares of the company’s stock worth $31,000 after acquiring an additional 347 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Weis Markets from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Weis Markets presently has a consensus rating of “Buy”.

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.