Weis Markets (NYSE:WMK) Shares Gap Down – Should You Sell?

Weis Markets, Inc. (NYSE:WMK)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $74.36, but opened at $70.65. Weis Markets shares last traded at $73.07, with a volume of 6,558 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Weis Markets from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 7th.

Weis Markets Stock Down 1.8 %

The business has a 50 day simple moving average of $68.48 and a 200-day simple moving average of $68.39. The company has a market capitalization of $1.96 billion, a P/E ratio of 20.51 and a beta of 0.51.

Weis Markets (NYSE:WMK) last released its quarterly earnings results on Tuesday, February 25th. The company reported $1.29 earnings per share (EPS) for the quarter. Weis Markets had a net margin of 2.01% and a return on equity of 6.85%. The business had revenue of $1.23 billion for the quarter.

Weis Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.36 annualized dividend and a dividend yield of 1.86%. Weis Markets’s dividend payout ratio is 38.20%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in Weis Markets by 6,800.0% during the 3rd quarter. International Assets Investment Management LLC now owns 414 shares of the company’s stock valued at $29,000 after purchasing an additional 408 shares during the period. Sterling Capital Management LLC grew its position in Weis Markets by 826.3% in the fourth quarter. Sterling Capital Management LLC now owns 528 shares of the company’s stock valued at $36,000 after purchasing an additional 471 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Weis Markets by 71.4% in the 3rd quarter. Blue Trust Inc. now owns 646 shares of the company’s stock valued at $41,000 after purchasing an additional 269 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Weis Markets in the third quarter valued at $44,000. Finally, State of Wyoming acquired a new position in shares of Weis Markets in the fourth quarter valued at approximately $104,000.

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.