Weis Markets (NYSE:WMK) Shares Down 4.3% – Here’s What Happened

Weis Markets, Inc. (NYSE:WMK) fell 4.3% during trading on Wednesday . The stock traded as low as $63.53 and last traded at $63.28. 14,936 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 63,895 shares. The stock had previously closed at $66.09.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Weis Markets from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 7th.

Weis Markets Trading Up 1.2 %

The business has a fifty day simple moving average of $69.31 and a two-hundred day simple moving average of $68.44. The company has a market cap of $1.73 billion, a PE ratio of 18.04 and a beta of 0.52.

Weis Markets (NYSE:WMK) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.96 EPS for the quarter. Weis Markets had a return on equity of 6.85% and a net margin of 2.01%. The business had revenue of $1.19 billion for the quarter.

Weis Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Tuesday, November 12th. Weis Markets’s payout ratio is 38.20%.

Institutional Investors Weigh In On Weis Markets

A number of hedge funds have recently added to or reduced their stakes in WMK. International Assets Investment Management LLC raised its stake in Weis Markets by 6,800.0% in the third quarter. International Assets Investment Management LLC now owns 414 shares of the company’s stock valued at $29,000 after buying an additional 408 shares in the last quarter. Blue Trust Inc. raised its position in shares of Weis Markets by 71.4% during the 3rd quarter. Blue Trust Inc. now owns 646 shares of the company’s stock worth $41,000 after acquiring an additional 269 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Weis Markets during the third quarter worth approximately $44,000. Canada Pension Plan Investment Board acquired a new position in Weis Markets in the second quarter valued at approximately $82,000. Finally, Inspire Advisors LLC purchased a new position in Weis Markets in the third quarter valued at approximately $200,000.

About Weis Markets

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.