Weis Markets (NYSE:WMK) Sets New 12-Month High – Time to Buy?

Weis Markets, Inc. (NYSE:WMK) shares hit a new 52-week high during trading on Friday . The stock traded as high as $79.07 and last traded at $78.14, with a volume of 91556 shares trading hands. The stock had previously closed at $75.68.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Weis Markets from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Weis Markets presently has a consensus rating of “Hold”.

Weis Markets Stock Up 3.3%

The business’s 50 day simple moving average is $71.08 and its two-hundred day simple moving average is $68.81. The stock has a market cap of $1.94 billion, a P/E ratio of 18.98 and a beta of 0.46.

Weis Markets (NYSE:WMK) last posted its earnings results on Wednesday, May 6th. The company reported $1.13 earnings per share for the quarter. The firm had revenue of $1.26 billion for the quarter. Weis Markets had a net margin of 2.09% and a return on equity of 7.75%.

Weis Markets Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, May 11th. Weis Markets’s payout ratio is presently 33.01%.

Institutional Trading of Weis Markets

A number of hedge funds and other institutional investors have recently modified their holdings of WMK. Royal Bank of Canada grew its stake in shares of Weis Markets by 17.5% during the first quarter. Royal Bank of Canada now owns 8,120 shares of the company’s stock worth $626,000 after buying an additional 1,212 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Weis Markets by 9.2% during the first quarter. AQR Capital Management LLC now owns 14,798 shares of the company’s stock worth $1,140,000 after buying an additional 1,242 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Weis Markets by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,775 shares of the company’s stock worth $753,000 after buying an additional 405 shares during the last quarter. Norges Bank bought a new stake in shares of Weis Markets during the second quarter worth $714,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Weis Markets by 107.0% during the second quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company’s stock worth $26,000 after buying an additional 184 shares during the last quarter.

Weis Markets Company Profile

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.