Weyco Group Inc. (WEYS) Lifted to “Hold” at Zacks Investment Research
According to Zacks, “Weyco Group Inc. is engage in the business of the manufacture, purchase and distribution of men’s footwear. The principal brands of shoes sold are Nunn Bush, Brass Boot, and Stacy Adams. The company’s products consist of both mid-priced quality leather dress shoes which would be worn as a part of more formal and traditional attire and lower priced quality casual footwear of man-made materials or leather which would be used for leisure or less formal occasions. “
A number of other research analysts also recently weighed in on the company. TheStreet downgraded Weyco Group from a buy rating to a hold rating in a report on Wednesday, August 3rd. B. Riley downgraded Weyco Group from a buy rating to a neutral rating and lowered their target price for the company from $31.00 to $30.00 in a report on Monday, August 1st.
Shares of Weyco Group (NASDAQ:WEYS) opened at 26.84 on Thursday. The company has a market cap of $282.87 million, a P/E ratio of 17.68 and a beta of 0.54. Weyco Group has a 12 month low of $22.94 and a 12 month high of $29.18. The stock’s 50 day moving average price is $26.32 and its 200-day moving average price is $27.04.
Weyco Group (NASDAQ:WEYS) last posted its earnings results on Tuesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.07. Weyco Group had a net margin of 5.16% and a return on equity of 8.16%. The firm earned $56.90 million during the quarter, compared to the consensus estimate of $63.98 million. Equities research analysts expect that Weyco Group will post $1.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, August 29th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Thursday, August 25th. Weyco Group’s payout ratio is 56.00%.
Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Weyco Group by 1.4% in the first quarter. Geode Capital Management LLC now owns 39,308 shares of the company’s stock worth $1,046,000 after buying an additional 548 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Weyco Group by 4.3% in the first quarter. Renaissance Technologies LLC now owns 31,500 shares of the company’s stock worth $839,000 after buying an additional 1,300 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in shares of Weyco Group during the first quarter worth approximately $140,000. Bank of Montreal Can bought a new stake in shares of Weyco Group during the second quarter worth approximately $316,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Weyco Group by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 77,740 shares of the company’s stock worth $2,160,000 after buying an additional 3,024 shares during the last quarter. Institutional investors and hedge funds own 32.00% of the company’s stock.
About Weyco Group
Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe.
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