Weis Markets (NYSE:WMK) Reaches New 52-Week High – Here’s Why

Weis Markets, Inc. (NYSE:WMK)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $82.55 and last traded at $82.4860, with a volume of 153648 shares changing hands. The stock had previously closed at $79.26.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Weis Markets from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Weis Markets presently has an average rating of “Hold”.

Weis Markets Trading Up 4.1%

The company has a fifty day moving average of $71.84 and a two-hundred day moving average of $69.15. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 20.02 and a beta of 0.46.

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

Weis Markets Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, May 11th. Weis Markets’s payout ratio is 33.01%.

Institutional Investors Weigh In On Weis Markets

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in Weis Markets by 69.3% in the 1st quarter. Bank of America Corp DE now owns 72,810 shares of the company’s stock worth $4,979,000 after purchasing an additional 29,806 shares during the last quarter. Royal Bank of Canada lifted its holdings in Weis Markets by 28.7% in the 1st quarter. Royal Bank of Canada now owns 3,253 shares of the company’s stock worth $223,000 after purchasing an additional 725 shares during the last quarter. Empowered Funds LLC lifted its holdings in Weis Markets by 6.1% in the 1st quarter. Empowered Funds LLC now owns 119,507 shares of the company’s stock worth $8,173,000 after purchasing an additional 6,840 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Weis Markets by 13.9% in the 1st quarter. Quantinno Capital Management LP now owns 12,068 shares of the company’s stock worth $825,000 after purchasing an additional 1,471 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Weis Markets by 2,228.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 171,930 shares of the company’s stock worth $11,758,000 after purchasing an additional 164,546 shares during the last quarter.

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.