Weyco Group, Inc. (WEYS) Upgraded to Hold by Zacks Investment Research
Weyco Group, Inc. (NASDAQ:WEYS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Weyco Group Inc. is engage in the business of the manufacture, purchase and distribution of men’s footwear. The principal brands of shoes sold are Nunn Bush, Brass Boot, and Stacy Adams. The company’s products consist of both mid-priced quality leather dress shoes which would be worn as a part of more formal and traditional attire and lower priced quality casual footwear of man-made materials or leather which would be used for leisure or less formal occasions. “
Separately, B. Riley reaffirmed a “neutral” rating and set a $26.00 price target on shares of Weyco Group in a research report on Tuesday, May 2nd.
Shares of Weyco Group (WEYS) traded up 1.45% on Wednesday, hitting $28.01. The stock had a trading volume of 9,980 shares. Weyco Group has a 52-week low of $23.75 and a 52-week high of $32.30. The company has a market cap of $291.39 million, a P/E ratio of 18.39 and a beta of 0.69. The company has a 50-day moving average of $27.60 and a 200-day moving average of $28.16.
Weyco Group (NASDAQ:WEYS) last issued its quarterly earnings data on Thursday, May 4th. The textile maker reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $69.12 million during the quarter, compared to the consensus estimate of $76.30 million. Weyco Group had a return on equity of 6.83% and a net margin of 5.57%. On average, equities analysts anticipate that Weyco Group will post $1.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, May 26th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This is an increase from Weyco Group’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.14%. Weyco Group’s dividend payout ratio is presently 57.90%.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Weyco Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 215,135 shares of the textile maker’s stock worth $6,041,000 after buying an additional 3,251 shares during the last quarter. California Public Employees Retirement System acquired a new position in shares of Weyco Group during the first quarter worth about $202,000. American International Group Inc. increased its position in shares of Weyco Group by 7.0% in the first quarter. American International Group Inc. now owns 4,007 shares of the textile maker’s stock worth $113,000 after buying an additional 261 shares during the last quarter. Martingale Asset Management L P increased its position in shares of Weyco Group by 29.4% in the first quarter. Martingale Asset Management L P now owns 22,902 shares of the textile maker’s stock worth $644,000 after buying an additional 5,201 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Weyco Group by 5.0% in the first quarter. Coldstream Capital Management Inc. now owns 16,843 shares of the textile maker’s stock worth $473,000 after buying an additional 803 shares during the last quarter. 32.12% of the stock is currently owned by institutional investors and hedge funds.
Weyco Group Company Profile
Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe (Florsheim Europe).
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