Weis Markets (NYSE:WMK) Shares Gap Down - Time to Sell?

Weis Markets, Inc. (NYSE:WMK - Get Free Report) shares gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Weis Markets from a "buy" rating to a "strong-buy" rating in a report on Thursday, November 7th.

Weis Markets Price Performance

The company has a 50-day moving average of $68.72 and a 200 day moving average of $68.55. The company has a market cap of $1.99 billion, a PE ratio of 20.78 and a beta of 0.51.

Weis Markets (NYSE:WMK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $1.29 EPS for the quarter. Weis Markets had a net margin of 2.01% and a return on equity of 6.85%. The company had revenue of $1.23 billion during the quarter.

Weis Markets Announces Dividend

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 issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.36 annualized dividend and a yield of 1.84%. Weis Markets's payout ratio is 33.25%.

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Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Weis Markets by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 1,842,882 shares of the company's stock worth $124,800,000 after acquiring an additional 30,772 shares during the last quarter. American Century Companies Inc. increased its stake in Weis Markets by 14.8% in the fourth quarter. American Century Companies Inc. now owns 485,287 shares of the company's stock worth $32,864,000 after purchasing an additional 62,472 shares during the period. Geode Capital Management LLC lifted its position in shares of Weis Markets by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 442,810 shares of the company's stock worth $29,994,000 after purchasing an additional 7,846 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Weis Markets by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 420,276 shares of the company's stock worth $28,461,000 after purchasing an additional 17,479 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Weis Markets by 9.1% during the fourth quarter. Northern Trust Corp now owns 166,968 shares of the company's stock valued at $11,307,000 after purchasing an additional 13,887 shares during the period.

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.