Weis Markets (NYSE:WMK) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of Weis Markets, Inc. (NYSE:WMK) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $68.87 and traded as low as $65.37. Weis Markets shares last traded at $66.30, with a volume of 241,876 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Weis Markets in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Weis Markets Stock Performance

The firm has a market capitalization of $1.64 billion, a PE ratio of 17.45 and a beta of 0.46. The stock has a fifty day moving average price of $69.05 and a 200-day moving average price of $68.87.

Weis Markets Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, February 17th. Weis Markets’s payout ratio is 35.79%.

Institutional Trading of Weis Markets

Several hedge funds have recently modified their holdings of WMK. UBS Group AG boosted its holdings in shares of Weis Markets by 601.4% in the 4th quarter. UBS Group AG now owns 198,020 shares of the company’s stock valued at $12,691,000 after buying an additional 169,787 shares in the last quarter. Millennium Management LLC raised its stake in shares of Weis Markets by 77.2% during the 3rd quarter. Millennium Management LLC now owns 257,715 shares of the company’s stock worth $18,522,000 after acquiring an additional 112,265 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Weis Markets during the 3rd quarter worth approximately $7,122,000. Jane Street Group LLC purchased a new stake in Weis Markets during the second quarter valued at approximately $4,364,000. Finally, Squarepoint Ops LLC boosted its stake in Weis Markets by 457.2% in the second quarter. Squarepoint Ops LLC now owns 69,115 shares of the company’s stock valued at $5,010,000 after acquiring an additional 56,712 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.