Weis Markets (NYSE:WMK) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Weis Markets, Inc. (NYSE:WMK – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $70.53 and traded as low as $65.55. Weis Markets shares last traded at $66.0150, with a volume of 137,674 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Weis Markets in a research note on Thursday, October 30th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Read Our Latest Stock Report on Weis Markets

Weis Markets Price Performance

The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 17.35 and a beta of 0.45. The firm’s fifty day moving average is $66.19 and its 200-day moving average is $70.50.

Weis Markets (NYSE:WMK – Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported $0.74 earnings per share for the quarter. The company had revenue of $1.24 billion during the quarter. Weis Markets had a net margin of 2.05% and a return on equity of 7.16%.

Weis Markets Dividend Announcement

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

Insider Buying and Selling

In other news, COO Robert G. Gleeson bought 500 shares of Weis Markets stock in a transaction on Friday, November 7th. The shares were bought at an average price of $65.51 per share, with a total value of $32,755.00. Following the acquisition, the chief operating officer directly owned 1,000 shares in the company, valued at approximately $65,510. This represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 27.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Weis Markets

Several institutional investors and hedge funds have recently made changes to their positions in WMK. American Century Companies Inc. boosted its position in Weis Markets by 9.6% during the second quarter. American Century Companies Inc. now owns 588,207 shares of the company’s stock worth $42,639,000 after purchasing an additional 51,356 shares during the period. Geode Capital Management LLC lifted its stake in shares of Weis Markets by 2.4% in the second quarter. Geode Capital Management LLC now owns 484,474 shares of the company’s stock worth $35,123,000 after buying an additional 11,135 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Weis Markets by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,529 shares of the company’s stock worth $19,901,000 after buying an additional 6,431 shares during the period. Millennium Management LLC grew its stake in Weis Markets by 77.2% in the 3rd quarter. Millennium Management LLC now owns 257,715 shares of the company’s stock valued at $18,522,000 after buying an additional 112,265 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Weis Markets by 22.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 204,215 shares of the company’s stock valued at $14,677,000 after buying an additional 36,802 shares during the last quarter.

About Weis Markets

(Get Free Report)

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.

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