Weis Markets (NYSE:WMK) Releases Quarterly Earnings Results

Weis Markets (NYSE:WMK) announced its quarterly earnings results on Tuesday. The company reported $0.92 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $1.28 billion during the quarter. Weis Markets had a net margin of 2.09% and a return on equity of 7.75%.

Weis Markets Stock Down 0.1%

WMK stock traded down $0.07 during trading on Tuesday, reaching $78.27. 243,455 shares of the company’s stock were exchanged, compared to its average volume of 148,679. Weis Markets has a 1-year low of $59.99 and a 1-year high of $83.74. The firm has a market cap of $1.94 billion, a PE ratio of 19.00 and a beta of 0.45. The company’s fifty day moving average price is $77.84 and its 200-day moving average price is $72.52.

Weis Markets Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, July 27th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, July 27th. Weis Markets’s payout ratio is 33.01%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Weis Markets from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Institutional Investors Weigh In On Weis Markets

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Weis Markets by 45.9% during the second quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $36,000 after purchasing an additional 145 shares during the last quarter. Royal Bank of Canada increased its stake in Weis Markets by 6.5% in the 4th quarter. Royal Bank of Canada now owns 2,528 shares of the company’s stock worth $162,000 after purchasing an additional 155 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Weis Markets by 107.0% during the 2nd 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 period. Osaic Holdings Inc. raised its holdings in Weis Markets by 16.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,591 shares of the company’s stock worth $115,000 after buying an additional 224 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Weis Markets by 4.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 6,876 shares of the company’s stock worth $500,000 after buying an additional 284 shares during the period.

About Weis Markets

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.