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

Weis Markets (NYSE:WMK) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Weis Markets Trading Up 3.7 %

Shares of WMK traded up $2.70 during mid-day trading on Thursday, reaching $75.16. The company’s stock had a trading volume of 138,907 shares, compared to its average volume of 88,478. The stock has a market cap of $2.02 billion, a P/E ratio of 21.72 and a beta of 0.47. The business has a 50-day simple moving average of $66.91 and a two-hundred day simple moving average of $66.25. Weis Markets has a 1-year low of $58.87 and a 1-year high of $76.62.

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

Hedge Funds Weigh In On Weis Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WMK. American Century Companies Inc. raised its holdings in Weis Markets by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 334,324 shares of the company’s stock valued at $20,986,000 after acquiring an additional 75,395 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Weis Markets in the 2nd quarter valued at $813,000. Victory Capital Management Inc. increased its stake in shares of Weis Markets by 79.8% in the 3rd quarter. Victory Capital Management Inc. now owns 20,261 shares of the company’s stock valued at $1,397,000 after purchasing an additional 8,990 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Weis Markets by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,143,192 shares of the company’s stock valued at $134,528,000 after purchasing an additional 7,856 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Weis Markets by 212.5% in the 2nd quarter. Bank of Montreal Can now owns 11,279 shares of the company’s stock valued at $716,000 after purchasing an additional 7,670 shares during the last quarter.

About Weis Markets

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.