Weis Markets (NYSE:WMK) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Weis Markets, Inc. (NYSE:WMK) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $70.53 and traded as low as $65.55. Weis Markets shares last traded at $66.0150, with a volume of 137,674 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weis Markets in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Weis Markets Price Performance

The firm has a fifty day moving average of $66.27 and a 200 day moving average of $70.53. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 17.37 and a beta of 0.45.

Weis Markets (NYSE:WMK) last issued its earnings results on Tuesday, November 4th. The company reported $0.74 earnings per share (EPS) for the quarter. Weis Markets had a return on equity of 7.16% and a net margin of 2.05%.The business had revenue of $1.24 billion during the quarter.

Weis Markets Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.36 dividend on an annualized basis and a yield of 2.1%. Weis Markets’s payout ratio is 35.79%.

Insiders Place Their Bets

In other news, COO Robert G. Gleeson purchased 500 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average price of $65.51 per share, with a total value of $32,755.00. Following the purchase, the chief operating officer directly owned 1,000 shares in the company, valued at approximately $65,510. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 27.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WMK. AlphaQuest LLC grew its position in Weis Markets by 5.2% in the second quarter. AlphaQuest LLC now owns 2,938 shares of the company’s stock worth $213,000 after acquiring an additional 144 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Weis Markets by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 12,560 shares of the company’s stock worth $910,000 after purchasing an additional 167 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Weis Markets by 107.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company’s stock worth $26,000 after purchasing an additional 184 shares during the last quarter. Martin & Co. Inc. TN raised its holdings in Weis Markets by 0.7% in the 3rd quarter. Martin & Co. Inc. TN now owns 28,686 shares of the company’s stock valued at $2,062,000 after buying an additional 204 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in Weis Markets by 2.9% in the second quarter. Teacher Retirement System of Texas now owns 7,672 shares of the company’s stock valued at $556,000 after buying an additional 219 shares during the last quarter.

Weis Markets Company Profile

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.