Weis Markets (NYSE:WMK) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Weis Markets (NYSE:WMKGet Rating) from a buy rating to a strong-buy rating in a research note published on Tuesday.

Weis Markets Stock Performance

NYSE:WMK opened at $84.70 on Tuesday. Weis Markets has a fifty-two week low of $58.40 and a fifty-two week high of $95.57. The company has a 50 day simple moving average of $81.88 and a two-hundred day simple moving average of $79.09. The company has a market capitalization of $2.28 billion, a PE ratio of 19.12 and a beta of 0.32.

Weis Markets Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 21st. Stockholders of record on Monday, November 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 4th. This is a boost from Weis Markets’s previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a dividend yield of 1.61%. Weis Markets’s dividend payout ratio is 30.70%.

Hedge Funds Weigh In On Weis Markets

Several hedge funds and other institutional investors have recently bought and sold shares of WMK. Victory Capital Management Inc. lifted its stake in shares of Weis Markets by 44.1% in the 1st quarter. Victory Capital Management Inc. now owns 226,924 shares of the company’s stock valued at $18,107,000 after purchasing an additional 69,412 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Weis Markets by 244.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 53,160 shares of the company’s stock valued at $3,962,000 after acquiring an additional 37,722 shares in the last quarter. Invesco Ltd. lifted its position in shares of Weis Markets by 38.0% during the 1st quarter. Invesco Ltd. now owns 115,213 shares of the company’s stock valued at $8,229,000 after acquiring an additional 31,699 shares during the period. State Street Corp lifted its position in shares of Weis Markets by 8.7% during the 2nd quarter. State Street Corp now owns 387,231 shares of the company’s stock valued at $28,864,000 after acquiring an additional 30,872 shares during the period. Finally, LSV Asset Management boosted its stake in Weis Markets by 6.3% during the first quarter. LSV Asset Management now owns 497,950 shares of the company’s stock worth $35,564,000 after acquiring an additional 29,300 shares in the last quarter. Institutional investors and hedge funds own 38.28% of the company’s stock.

About Weis Markets

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Weis Markets, Inc engages in the retail sale of food through a chain of supermarkets in Pennsylvania and surrounding states. The company's retail food stores sell groceries, dairy products, frozen foods, meats, seafood, fresh produce, floral, pharmacy services, deli products, prepared foods, bakery products, beer and wine, and fuel; and general merchandise items, such as health and beauty care, and household products.

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