Weis Markets (NYSE:WMK) Share Price Passes Below 200 Day Moving Average – What’s Next?

Weis Markets, Inc. (NYSE:WMK) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $66.09 and traded as low as $63.44. Weis Markets shares last traded at $63.82, with a volume of 103,741 shares trading hands.

Weis Markets Price Performance

The company has a market capitalization of $1.73 billion, a PE ratio of 18.57 and a beta of 0.46. The company’s fifty day moving average is $66.70 and its 200-day moving average is $66.05.

Weis Markets (NYSE:WMK) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter. Weis Markets had a return on equity of 6.74% and a net margin of 1.97%. The business had revenue of $1.18 billion for the quarter.

Weis Markets Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.34 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.36 annualized dividend and a dividend yield of 2.12%. Weis Markets’s dividend payout ratio is presently 39.31%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Weis Markets by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,143,192 shares of the company’s stock worth $134,528,000 after acquiring an additional 7,856 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Weis Markets by 29.1% in the second quarter. American Century Companies Inc. now owns 334,324 shares of the company’s stock worth $20,986,000 after purchasing an additional 75,395 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Weis Markets by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 302,346 shares of the company’s stock worth $18,978,000 after purchasing an additional 4,625 shares during the period. GSA Capital Partners LLP boosted its position in Weis Markets by 22.3% in the first quarter. GSA Capital Partners LLP now owns 51,614 shares of the company’s stock valued at $3,324,000 after buying an additional 9,427 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in Weis Markets by 23.8% during the 2nd quarter. Squarepoint Ops LLC now owns 34,326 shares of the company’s stock worth $2,155,000 after buying an additional 6,598 shares during the last quarter.

Weis Markets Company Profile

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.