Weis Markets (NYSE:WMK) Reaches New 52-Week High – What’s Next?

Weis Markets, Inc. (NYSE:WMK)’s stock price hit a new 52-week high during trading on Wednesday. The stock traded as high as $83.84 and last traded at $81.6550, with a volume of 6,961 shares traded. The stock had previously closed at $82.45.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Weis Markets from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Weis Markets Trading Down 0.9%

The stock’s 50 day moving average price is $74.17 and its 200 day moving average price is $72.95. The firm has a market cap of $2.02 billion, a PE ratio of 19.51 and a beta of 0.37.

Weis Markets (NYSE:WMK) last posted its earnings results on Tuesday, November 3rd. The company reported $0.90 earnings per share for the quarter. Weis Markets had a net margin of 2.06% and a return on equity of 7.62%. The business had revenue of $1.28 billion for the quarter.

Weis Markets Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th will be given a $0.34 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $1.36 annualized dividend and a dividend yield of 1.7%. Weis Markets’s dividend payout ratio is presently 32.46%.

Institutional Investors Weigh In On Weis Markets

Large investors have recently modified their holdings of the stock. Landscape Capital Management L.L.C. lifted its position in Weis Markets by 4.4% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 36,556 shares of the company’s stock worth $2,668,000 after acquiring an additional 1,531 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Weis Markets by 11.2% in the 3rd quarter. Voya Investment Management LLC now owns 2,875 shares of the company’s stock worth $210,000 after acquiring an additional 290 shares during the period. Edgestream Partners L.P. purchased a new position in Weis Markets in the 3rd quarter worth approximately $5,022,000. Virtus Advisers LLC grew its position in Weis Markets by 16.8% in the third quarter. Virtus Advisers LLC now owns 5,335 shares of the company’s stock valued at $389,000 after acquiring an additional 766 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Weis Markets by 5.3% in the third quarter. Parallel Advisors LLC now owns 3,645 shares of the company’s stock valued at $266,000 after acquiring an additional 183 shares in the last quarter.

About Weis Markets

Weis Markets, Inc. is a regional food retailer headquartered in Sunbury, Pennsylvania. The company operates supermarkets under the Weis Markets name, offering groceries and everyday household products along with fresh produce, meat and seafood, bakery, deli and prepared foods. Many stores also provide services such as pharmacies, fuel centers and online grocery ordering with pickup or delivery options. Weis Markets serves communities across Pennsylvania, Maryland, Delaware, New Jersey, New York, Virginia and West Virginia.