Weis Markets (NYSE:WMK) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Weis Markets, Inc. (NYSE:WMK) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $68.09 and traded as low as $68.00. Weis Markets shares last traded at $68.05, with a volume of 57,162 shares.

Wall Street Analysts Forecast Growth

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

Weis Markets Stock Performance

The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 19.12 and a beta of 0.52. The business’s 50 day moving average is $70.21 and its 200-day moving average is $68.13.

Weis Markets Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.34 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.00%. Weis Markets’s payout ratio is presently 38.20%.

Hedge Funds Weigh In On Weis Markets

Institutional investors and hedge funds have recently bought and sold shares of the stock. 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. Barclays PLC raised its stake in shares of Weis Markets by 354.5% in the third quarter. Barclays PLC now owns 27,459 shares of the company’s stock valued at $1,893,000 after purchasing an additional 21,418 shares in the last quarter. Geode Capital Management LLC lifted its position in Weis Markets by 3.9% in the third quarter. Geode Capital Management LLC now owns 434,964 shares of the company’s stock worth $29,987,000 after purchasing an additional 16,463 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Weis Markets by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 402,797 shares of the company’s stock worth $27,765,000 after buying an additional 13,946 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in Weis Markets in the 2nd quarter valued at $813,000.

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.