Weis Markets (NYSE:WMK) Reaches New 12-Month High – Here’s Why

Weis Markets, Inc. (NYSE:WMK) reached a new 52-week high during trading on Friday . The stock traded as high as $79.07 and last traded at $78.14, with a volume of 91556 shares traded. The stock had previously closed at $75.68.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Weis Markets from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Weis Markets Price Performance

The firm has a market cap of $1.94 billion, a PE ratio of 18.98 and a beta of 0.46. The company has a 50-day simple moving average of $70.83 and a 200-day simple moving average of $68.74.

Weis Markets (NYSE:WMK) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.13 earnings per share (EPS) for the quarter. The firm had revenue of $1.26 billion during the quarter. Weis Markets had a return on equity of 7.75% and a net margin of 2.09%.

Weis Markets Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued a $0.34 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. Weis Markets’s dividend payout ratio is presently 33.01%.

Institutional Investors Weigh In On Weis Markets

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WMK. EverSource Wealth Advisors LLC increased its position in shares of Weis Markets by 107.0% during the second quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company’s stock worth $26,000 after acquiring an additional 184 shares during the period. Torren Management LLC purchased a new stake in shares of Weis Markets in the fourth quarter valued at approximately $26,000. Raymond James Financial Inc. bought a new position in Weis Markets in the second quarter worth approximately $55,000. Rockefeller Capital Management L.P. grew its stake in Weis Markets by 78.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 772 shares of the company’s stock worth $49,000 after purchasing an additional 340 shares in the last quarter. Finally, Signaturefd LLC increased its holdings 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 purchasing an additional 335 shares during the period.

About Weis Markets

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.