Weis Markets (NYSE:WMK) Posts Quarterly Earnings Results

Weis Markets (NYSE:WMK) announced its quarterly earnings data on Tuesday. The company reported $0.92 earnings per share for the quarter, FiscalAI reports. Weis Markets had a net margin of 2.09% and a return on equity of 7.75%. The firm had revenue of $1.28 billion for the quarter.

Weis Markets Trading Down 0.1%

Shares of WMK stock opened at $78.27 on Wednesday. Weis Markets has a twelve month low of $59.99 and a twelve month high of $83.74. The stock has a market cap of $1.94 billion, a P/E ratio of 19.00 and a beta of 0.45. The stock has a 50 day moving average of $77.97 and a 200 day moving average of $72.59.

Weis Markets Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, July 27th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, July 27th. Weis Markets’s dividend payout ratio (DPR) is 33.01%.

Institutional Investors Weigh In On Weis Markets

Hedge funds and other institutional investors have recently made changes to their positions in the company. Torren Management LLC acquired a new position in shares of Weis Markets in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC increased its holdings in Weis Markets by 107.0% in the second quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company’s stock valued at $26,000 after buying an additional 184 shares in the last quarter. Versant Capital Management Inc increased its holdings in Weis Markets by 788.6% in the second quarter. Versant Capital Management Inc now owns 391 shares of the company’s stock valued at $31,000 after buying an additional 347 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Weis Markets by 45.9% in the second quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $36,000 after acquiring an additional 145 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in shares of 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 acquiring an additional 340 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Weis Markets from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

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.