Weis Markets (NYSE:WMK) Shares Cross Below 200 Day Moving Average – Should You Sell?

Shares of Weis Markets, Inc. (NYSE:WMK) passed 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.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weis Markets in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Weis Markets Stock Performance

The company’s fifty day moving average is $69.06 and its two-hundred day moving average is $68.85. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 17.82 and a beta of 0.46.

Weis Markets Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $1.36 annualized dividend and a dividend yield of 2.0%. Weis Markets’s dividend payout ratio is presently 35.79%.

Hedge Funds Weigh In On Weis Markets

Several hedge funds and other institutional investors have recently bought and sold shares of WMK. Torren Management LLC acquired a new stake in Weis Markets in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of 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 purchasing an additional 184 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Weis Markets in the second quarter valued at $55,000. Signaturefd LLC grew its holdings in Weis Markets by 61.2% during the 4th quarter. Signaturefd LLC now owns 882 shares of the company’s stock valued at $57,000 after purchasing an additional 335 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Weis Markets during the 3rd quarter valued at $74,000.

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.