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

Weis Markets, Inc. (NYSE:WMK) 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.

Analyst Ratings Changes

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

Weis Markets Price Performance

The business has a 50 day moving average price of $68.48 and a two-hundred day moving average price of $68.39. The stock has a market cap of $1.96 billion, a PE ratio of 20.51 and a beta of 0.51.

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

Weis Markets Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.86%. Weis Markets’s dividend payout ratio is presently 38.20%.

Institutional Trading of Weis Markets

Several institutional investors and hedge funds have recently made changes to their positions in WMK. International Assets Investment Management LLC boosted its holdings in shares of Weis Markets by 6,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 414 shares of the company’s stock valued at $29,000 after acquiring an additional 408 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Weis Markets by 826.3% during the 4th quarter. Sterling Capital Management LLC now owns 528 shares of the company’s stock worth $36,000 after buying an additional 471 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Weis Markets by 71.4% during the 3rd quarter. Blue Trust Inc. now owns 646 shares of the company’s stock worth $41,000 after purchasing an additional 269 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Weis Markets during the 3rd quarter worth approximately $44,000. Finally, State of Wyoming acquired a new position in shares of Weis Markets in the fourth quarter worth $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.