Weis Markets (NYSE:WMK) Hits New 52-Week Low – Should You Sell?

Shares of Weis Markets, Inc. (NYSE:WMK) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $61.57 and last traded at $62.2690, with a volume of 19889 shares. The stock had previously closed at $63.90.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Weis Markets in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Weis Markets Price Performance

The business has a 50 day moving average price of $69.34 and a 200 day moving average price of $73.59. The stock has a market capitalization of $1.59 billion, a PE ratio of 16.03 and a beta of 0.45.

Weis Markets (NYSE:WMK) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.74 earnings per share (EPS) for the quarter. Weis Markets had a net margin of 2.23% and a return on equity of 7.60%. The company had revenue of $1.24 billion for the quarter.

Weis Markets Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, November 10th. Weis Markets’s dividend payout ratio is currently 35.79%.

Hedge Funds Weigh In On Weis Markets

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Weis Markets by 107.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company’s stock valued at $26,000 after purchasing an additional 184 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Weis Markets during the second quarter valued at $55,000. State of Alaska Department of Revenue purchased a new stake in shares of Weis Markets during the third quarter valued at $74,000. Tower Research Capital LLC TRC increased its holdings in Weis Markets by 138.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,330 shares of the company’s stock worth $96,000 after buying an additional 773 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in Weis Markets by 16.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,591 shares of the company’s stock worth $115,000 after buying an additional 224 shares during the last quarter.

About Weis Markets

Weis Markets, Inc engages in the retail sale of food through a chain of supermarkets in Pennsylvania and surrounding states. The company’s retail food stores sell groceries, dairy products, frozen foods, meats, seafood, fresh produce, floral, pharmacy services, deli products, prepared foods, bakery products, beer and wine, and fuel; and general merchandise items, such as health and beauty care, and household products.