Weis Markets (NYSE:WMK) Hits New 52-Week High – Still a Buy?

Shares of Weis Markets, Inc. (NYSE:WMK) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $83.84 and last traded at $81.6550, with a volume of 6,961 shares. The stock had previously closed at $82.45.

Analyst Ratings Changes

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

Weis Markets Stock Performance

The business’s fifty day moving average is $74.57 and its two-hundred day moving average is $73.06. The company has a market cap of $1.96 billion, a P/E ratio of 18.86 and a beta of 0.37.

Weis Markets (NYSE:WMK) last issued its earnings results on Tuesday, November 3rd. The company reported $0.90 EPS for the quarter. The business had revenue of $1.28 billion for the quarter. Weis Markets had a net margin of 2.06% and a return on equity of 7.62%.

Weis Markets Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $1.36 dividend on an annualized basis and a yield of 1.7%. Weis Markets’s dividend payout ratio (DPR) is 32.46%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Weis Markets by 45.9% in the second quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $36,000 after acquiring an additional 145 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Weis Markets by 5.3% during the third quarter. Parallel Advisors LLC now owns 3,645 shares of the company’s stock worth $266,000 after purchasing an additional 183 shares during the period. Nisa Investment Advisors LLC boosted its position in Weis Markets by 43.4% in the third quarter. Nisa Investment Advisors LLC now owns 859 shares of the company’s stock valued at $63,000 after buying an additional 260 shares during the last quarter. Voya Investment Management LLC boosted its position in Weis Markets by 11.2% in the third quarter. Voya Investment Management LLC now owns 2,875 shares of the company’s stock valued at $210,000 after buying an additional 290 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in 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 buying an additional 347 shares during the period.

Weis Markets Company Profile

Weis Markets, Inc. is a regional food retailer headquartered in Sunbury, Pennsylvania. The company operates supermarkets under the Weis Markets name, offering groceries and everyday household products along with fresh produce, meat and seafood, bakery, deli and prepared foods. Many stores also provide services such as pharmacies, fuel centers and online grocery ordering with pickup or delivery options. Weis Markets serves communities across Pennsylvania, Maryland, Delaware, New Jersey, New York, Virginia and West Virginia.