Weis Markets (NYSE:WMK) Posts Earnings Results

Weis Markets (NYSE:WMK) issued its earnings results on Tuesday. The company reported $0.90 earnings per share (EPS) for the quarter, FiscalAI reports. Weis Markets had a return on equity of 7.40% and a net margin of 1.99%. The firm had revenue of $1.28 billion for the quarter.

Weis Markets Price Performance

Shares of NYSE:WMK opened at $79.79 on Wednesday. Weis Markets has a 1-year low of $59.99 and a 1-year high of $83.74. The firm’s 50 day simple moving average is $73.27 and its two-hundred day simple moving average is $72.67. The company has a market capitalization of $1.97 billion, a P/E ratio of 19.39 and a beta of 0.37.

Weis Markets Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be given a dividend of $0.34 per share. The ex-dividend date is Monday, November 9th. This represents a $1.36 annualized dividend and a yield of 1.7%. Weis Markets’s payout ratio is 33.75%.

Hedge Funds Weigh In On Weis Markets

Several large investors have recently made changes to their positions in WMK. BlackRock Inc. purchased a new stake in shares of Weis Markets during the second quarter worth approximately $95,417,000. Bank of New York Mellon Corp raised its holdings in Weis Markets by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 272,212 shares of the company’s stock valued at $18,617,000 after acquiring an additional 1,700 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Weis Markets by 2,228.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 171,930 shares of the company’s stock worth $11,758,000 after acquiring an additional 164,546 shares during the period. Empowered Funds LLC boosted its holdings in shares of Weis Markets by 6.1% during the first quarter. Empowered Funds LLC now owns 119,507 shares of the company’s stock valued at $8,173,000 after acquiring an additional 6,840 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Weis Markets by 69.3% during the 1st quarter. Bank of America Corp DE now owns 72,810 shares of the company’s stock worth $4,979,000 after buying an additional 29,806 shares in the last quarter.

Analyst Ratings Changes

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

Weis Markets Company Profile

Weis Markets, Inc is a regional food retailer that operates supermarkets under the Weis Markets banner. The company offers a broad selection of grocery products, including fresh produce, meat and seafood, dairy items, bakery and deli goods, frozen foods, beverages, household products, and health and beauty items. Many locations also provide pharmacy services, prepared foods, fuel, and online grocery ordering or pickup options.

Founded in 1912 by brothers Harry and Sigmund Weis in Sunbury, Pennsylvania, the company has grown into a Mid-Atlantic supermarket chain.