Weis Markets (NYSE:WMK) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Weis Markets (NYSE:WMKGet Rating) from a buy rating to a strong-buy rating in a report published on Tuesday.

Weis Markets Price Performance

Shares of Weis Markets stock opened at $85.73 on Tuesday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 19.35 and a beta of 0.32. Weis Markets has a 52-week low of $58.40 and a 52-week high of $95.57. The stock has a 50-day simple moving average of $81.46 and a 200-day simple moving average of $79.02.

Weis Markets Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 21st. Investors of record on Monday, November 7th were issued a $0.34 dividend. This is a positive change from Weis Markets’s previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, November 4th. Weis Markets’s payout ratio is 30.70%.

Institutional Investors Weigh In On Weis Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. acquired a new stake in Weis Markets in the 3rd quarter worth approximately $26,000. Prospera Financial Services Inc acquired a new position in shares of Weis Markets during the first quarter worth approximately $27,000. Meeder Asset Management Inc. boosted its position in shares of Weis Markets by 76.0% in the second quarter. Meeder Asset Management Inc. now owns 389 shares of the company’s stock valued at $29,000 after acquiring an additional 168 shares during the period. Ensign Peak Advisors Inc bought a new stake in shares of Weis Markets in the third quarter valued at approximately $29,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Weis Markets in the first quarter valued at approximately $44,000. 38.28% of the stock is currently owned by institutional investors and hedge funds.

Weis Markets Company Profile

(Get Rating)

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.

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