Weis Markets (NYSE:WMK) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Weis Markets, Inc. (NYSE:WMK) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $66.34 and traded as high as $69.32. Weis Markets shares last traded at $69.0310, with a volume of 89,615 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Weis Markets in a research note on Thursday, October 30th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Weis Markets has an average rating of “Hold”.

Weis Markets Stock Up 0.4%

The business’s fifty day moving average price is $66.34 and its 200 day moving average price is $69.17. The firm has a market capitalization of $1.71 billion, a PE ratio of 18.17 and a beta of 0.46.

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

Weis Markets Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, November 10th. Weis Markets’s dividend payout ratio (DPR) is 35.79%.

Insider Activity

In related news, COO Robert G. Gleeson purchased 500 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average price of $65.51 per share, for a total transaction of $32,755.00. Following the completion of the purchase, the chief operating officer directly owned 1,000 shares of the company’s stock, valued at $65,510. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 27.00% of the company’s stock.

Hedge Funds Weigh In On Weis Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC raised its position in Weis Markets by 61.2% during the 4th quarter. Signaturefd LLC now owns 882 shares of the company’s stock worth $57,000 after buying an additional 335 shares during the last quarter. TrueMark Investments LLC acquired a new position in shares of Weis Markets during the fourth quarter worth about $208,000. Tudor Investment Corp ET AL purchased a new position in Weis Markets during the third quarter worth about $7,122,000. Cambria Investment Management L.P. lifted its position in Weis Markets by 24.9% in the third quarter. Cambria Investment Management L.P. now owns 7,676 shares of the company’s stock valued at $552,000 after purchasing an additional 1,530 shares during the period. Finally, Tweedy Browne Co LLC purchased a new stake in Weis Markets in the 3rd quarter valued at approximately $834,000.

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.