Weis Markets (NYSE:WMK) Stock Crosses Above 50-Day Moving Average – Here’s Why

Weis Markets, Inc. (NYSE:WMK) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $69.11 and traded as high as $69.77. Weis Markets shares last traded at $68.8120, with a volume of 112,111 shares traded.

Wall Street Analyst Weigh In

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

Weis Markets Price Performance

The company has a market capitalization of $1.76 billion, a P/E ratio of 18.95 and a beta of 0.44. The company’s 50-day moving average price is $68.96 and its two-hundred day moving average price is $67.84.

Weis Markets (NYSE:WMK) last issued its quarterly earnings data on Thursday, March 12th. The company reported $1.14 earnings per share for the quarter. The company had revenue of $1.30 billion for the quarter. Weis Markets had a net margin of 1.96% and a return on equity of 7.09%.

Weis Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. Weis Markets’s dividend payout ratio is presently 36.27%.

Hedge Funds Weigh In On Weis Markets

Large investors have recently modified their holdings of the stock. Torren Management LLC bought a new stake in Weis Markets in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its stake in Weis Markets by 107.0% in 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 period. Rockefeller Capital Management L.P. boosted its stake in Weis Markets by 78.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 772 shares of the company’s stock valued at $49,000 after purchasing an additional 340 shares during the period. Raymond James Financial Inc. bought a new stake in Weis Markets in the 2nd quarter valued at $55,000. Finally, Signaturefd LLC increased its position in Weis Markets by 61.2% during the fourth quarter. Signaturefd LLC now owns 882 shares of the company’s stock worth $57,000 after acquiring an additional 335 shares during the period.

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.