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

Weis Markets, Inc. (NYSE:WMK)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $69.78 and traded as low as $63.61. Weis Markets shares last traded at $65.5490, with a volume of 122,954 shares traded.

Wall Street Analysts Forecast Growth

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

Weis Markets Stock Up 2.6%

The company has a market cap of $1.62 billion, a price-to-earnings ratio of 17.25 and a beta of 0.46. The business has a fifty day simple moving average of $65.61 and a 200 day simple moving average of $69.78.

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

Weis Markets Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were issued a $0.34 dividend. 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 dividend payout ratio (DPR) is 35.79%.

Insider Activity

In other news, COO Robert G. Gleeson purchased 500 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were 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 of the company’s stock, valued at $65,510. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 27.00% of the company’s stock.

Hedge Funds Weigh In On Weis Markets

Several hedge funds and other institutional investors have recently bought and sold shares of WMK. Tudor Investment Corp ET AL purchased a new stake in Weis Markets during the third quarter worth $7,122,000. Cambria Investment Management L.P. boosted its position in shares of Weis Markets by 24.9% in the 3rd quarter. Cambria Investment Management L.P. now owns 7,676 shares of the company’s stock worth $552,000 after buying an additional 1,530 shares in the last quarter. Tweedy Browne Co LLC acquired a new stake in Weis Markets in the 3rd quarter valued at about $834,000. Virtus Advisers LLC acquired a new stake in Weis Markets in the 3rd quarter valued at about $289,000. Finally, Polymer Capital Management US LLC increased its holdings in Weis Markets by 43.4% during the 3rd quarter. Polymer Capital Management US LLC now owns 12,622 shares of the company’s stock valued at $907,000 after acquiring an additional 3,820 shares in 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.