Weyco Group (NASDAQ:WEYS) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Weyco Group (NASDAQ:WEYS) from a buy rating to a hold rating in a report issued on Sunday.

Separately, Weiss Ratings raised Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Weyco Group Stock Up 1.0%

Shares of Weyco Group stock opened at $32.26 on Friday. The firm’s 50-day moving average price is $31.39 and its two-hundred day moving average price is $30.80. Weyco Group has a 12-month low of $25.51 and a 12-month high of $34.92. The company has a market capitalization of $308.08 million, a price-to-earnings ratio of 13.39 and a beta of 0.99.

Weyco Group (NASDAQ:WEYS) last posted its earnings results on Tuesday, March 3rd. The textile maker reported $0.91 EPS for the quarter. The firm had revenue of $76.80 million during the quarter. Weyco Group had a net margin of 8.36% and a return on equity of 9.26%.

Weyco Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, March 13th. This represents a $1.08 annualized dividend and a dividend yield of 3.3%. Weyco Group’s payout ratio is currently 44.81%.

Hedge Funds Weigh In On Weyco Group

Several large investors have recently bought and sold shares of the stock. Empowered Funds LLC grew its stake in shares of Weyco Group by 4.5% in the 4th quarter. Empowered Funds LLC now owns 52,006 shares of the textile maker’s stock worth $1,591,000 after acquiring an additional 2,226 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Weyco Group by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 100,606 shares of the textile maker’s stock valued at $3,078,000 after purchasing an additional 2,226 shares in the last quarter. Barclays PLC lifted its position in shares of Weyco Group by 9.9% during the fourth quarter. Barclays PLC now owns 9,615 shares of the textile maker’s stock valued at $294,000 after purchasing an additional 869 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in Weyco Group during the fourth quarter worth about $30,000. Finally, State Street Corp boosted its holdings in Weyco Group by 2.4% during the fourth quarter. State Street Corp now owns 100,675 shares of the textile maker’s stock worth $3,304,000 after purchasing an additional 2,381 shares during the last quarter. 23.59% of the stock is currently owned by institutional investors.

About Weyco Group

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.