Weis Markets (NYSE:WMK) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Weis Markets, Inc. (NYSE:WMK)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $69.74 and traded as high as $77.50. Weis Markets shares last traded at $76.6110, with a volume of 268,501 shares.

Wall Street Analyst Weigh In

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

Weis Markets Stock Down 0.2%

The stock’s 50 day moving average price is $73.07 and its two-hundred day moving average price is $69.79. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 18.59 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 (EPS) for the quarter. Weis Markets had a net margin of 2.09% and a return on equity of 7.75%. The company had revenue of $1.26 billion during the quarter.

Weis Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were paid a dividend of $0.34 per share. The ex-dividend date was Monday, May 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.8%. Weis Markets’s dividend payout ratio (DPR) is presently 33.01%.

Hedge Funds Weigh In On Weis Markets

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in shares of Weis Markets by 6.5% in the fourth quarter. Royal Bank of Canada now owns 2,528 shares of the company’s stock worth $162,000 after buying an additional 155 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Weis Markets by 107.0% during the second quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company’s stock worth $26,000 after acquiring an additional 184 shares during the last quarter. Osaic Holdings Inc. grew its stake in Weis Markets by 16.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,591 shares of the company’s stock valued at $115,000 after acquiring an additional 224 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Weis Markets by 4.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 6,876 shares of the company’s stock valued at $500,000 after acquiring an additional 284 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Weis Markets by 6.2% during the 4th quarter. Rafferty Asset Management LLC now owns 4,847 shares of the company’s stock valued at $311,000 after acquiring an additional 284 shares in 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.