Weis Markets (NYSE:WMK) Reaches New 52-Week High – Here’s Why

Weis Markets, Inc. (NYSE:WMK) shares hit a new 52-week high on Thursday . The company traded as high as $82.55 and last traded at $82.4860, with a volume of 153648 shares. The stock had previously closed at $79.26.

Analysts Set New Price Targets

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

Weis Markets Trading Up 4.1%

The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 20.02 and a beta of 0.46. The stock has a 50-day simple moving average of $71.84 and a 200 day simple moving average of $69.15.

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

Weis Markets Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a dividend of $0.34 per share. The ex-dividend date was Monday, May 11th. This represents a $1.36 dividend on an annualized basis and a yield of 1.6%. Weis Markets’s dividend payout ratio (DPR) is presently 33.01%.

Institutional Investors Weigh In On Weis Markets

Several institutional investors have recently made changes to their positions in WMK. UBS Group AG lifted its holdings in shares of Weis Markets by 601.4% during the 4th quarter. UBS Group AG now owns 198,020 shares of the company’s stock valued at $12,691,000 after buying an additional 169,787 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Weis Markets by 2,228.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 171,930 shares of the company’s stock valued at $11,758,000 after buying an additional 164,546 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Weis Markets by 77.2% during the 3rd quarter. Millennium Management LLC now owns 257,715 shares of the company’s stock valued at $18,522,000 after buying an additional 112,265 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Weis Markets during the 3rd quarter valued at about $7,122,000. Finally, Jane Street Group LLC acquired a new stake in shares of Weis Markets during the 2nd quarter valued at about $4,364,000.

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.