Weis Markets (NYSE:WMK) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Weis Markets, Inc. (NYSE:WMK) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $72.92 and traded as low as $71.41. Weis Markets shares last traded at $72.1620, with a volume of 137,904 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Weis Markets from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Weis Markets has an average rating of “Buy”.

Weis Markets Stock Performance

The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 17.91 and a beta of 0.43. The business’s 50 day moving average price is $72.94 and its 200 day moving average price is $72.92.

Weis Markets (NYSE:WMK) last posted its earnings results on Tuesday, August 4th. The company reported $0.92 earnings per share (EPS) for the quarter. Weis Markets had a net margin of 1.99% and a return on equity of 7.40%. The firm had revenue of $1.28 billion during the quarter.

Weis Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, July 27th were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, July 27th. This represents a $1.36 dividend on an annualized basis and a yield of 1.9%. Weis Markets’s payout ratio is presently 33.75%.

Institutional Investors Weigh In On Weis Markets

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Weis Markets by 45.9% during the 2nd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $36,000 after acquiring an additional 145 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Weis Markets by 78.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 772 shares of the company’s stock worth $49,000 after purchasing an additional 340 shares during the period. Versant Capital Management Inc boosted its position in Weis Markets by 788.6% during the second quarter. Versant Capital Management Inc now owns 391 shares of the company’s stock worth $31,000 after purchasing an additional 347 shares in the last quarter. Royal Bank of Canada boosted its position in Weis Markets by 28.7% during the first quarter. Royal Bank of Canada now owns 3,253 shares of the company’s stock worth $223,000 after purchasing an additional 725 shares in the last quarter. Finally, Money Concepts Capital Corp grew its holdings in Weis Markets by 15.6% in the first quarter. Money Concepts Capital Corp now owns 7,349 shares of the company’s stock valued at $503,000 after purchasing an additional 990 shares during the period.

About Weis Markets

Weis Markets, Inc is a food retailer that operates supermarkets under the Weis Markets name. The company sells a broad selection of grocery products, including fresh produce, meat and seafood, dairy items, bakery goods, prepared foods, packaged foods, beverages and household products. Many locations also offer pharmacies, fuel stations and other convenience services.

Founded in 1912 by brothers Harry and Sigmund Weis in Sunbury, Pennsylvania, the company has grown from a regional grocery business into a supermarket operator serving communities primarily in Pennsylvania, Maryland, Delaware, New Jersey, West Virginia and Virginia.