Weis Markets (NYSE:WMK) Stock Breaks Below 200-Day Moving Average – Here’s What Happened

Weis Markets, Inc. (NYSE:WMK) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $73.70 and traded as low as $73.21. Weis Markets shares last traded at $75.2150, with a volume of 145,619 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Weis Markets from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 31st. One research analyst has rated the stock with a Buy rating. According to MarketBeat, the company has an average rating of “Buy”.

Weis Markets Stock Up 0.2%

The company has a 50-day moving average price of $72.07 and a 200-day moving average price of $73.75. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 18.74 and a beta of 0.40.

Weis Markets (NYSE:WMK) last posted its earnings results on Tuesday, August 4th. The company reported $0.92 earnings per share for the quarter. The business had revenue of $1.28 billion for the quarter. Weis Markets had a net margin of 1.99% and a return on equity of 7.40%.

Institutional Investors Weigh In On Weis Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Weis Markets in the 2nd quarter valued at about $95,417,000. Bank of New York Mellon Corp grew its holdings in shares of Weis Markets by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 272,212 shares of the company’s stock worth $18,617,000 after purchasing an additional 1,700 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Weis Markets by 2,228.4% in the 1st 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 in the last quarter. Empowered Funds LLC boosted its holdings in Weis Markets by 6.1% in the first quarter. Empowered Funds LLC now owns 119,507 shares of the company’s stock worth $8,173,000 after acquiring an additional 6,840 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Weis Markets by 69.3% during the first quarter. Bank of America Corp DE now owns 72,810 shares of the company’s stock worth $4,979,000 after purchasing an additional 29,806 shares during the last quarter.

About Weis Markets

Weis Markets, Inc is a regional food retailer headquartered in Sunbury, Pennsylvania. The company operates supermarkets offering a broad selection of groceries and household products, including fresh produce, meat and seafood, dairy and frozen foods, bakery items, deli products, prepared foods, and beer and wine where permitted by law.

Many Weis Markets locations also provide additional services such as pharmacies, fuel centers, online grocery ordering, and curbside pickup or delivery.