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

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

Weis Markets Price Performance

WMK traded up $2.70 during mid-day trading on Thursday, hitting $75.16. The stock had a trading volume of 138,907 shares, compared to its average volume of 88,478. The stock’s fifty day simple moving average is $66.91 and its 200-day simple moving average is $66.25. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 21.72 and a beta of 0.47. Weis Markets has a 1-year low of $58.87 and a 1-year high of $76.62.

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

Institutional Investors Weigh In On Weis Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its holdings in shares of Weis Markets by 24.5% in the 1st quarter. BNP Paribas Financial Markets now owns 20,662 shares of the company’s stock valued at $1,331,000 after purchasing an additional 4,065 shares during the period. Quantbot Technologies LP raised its stake in Weis Markets by 305.3% in the first quarter. Quantbot Technologies LP now owns 3,798 shares of the company’s stock valued at $245,000 after buying an additional 2,861 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Weis Markets by 54.4% in the first quarter. Oppenheimer & Co. Inc. now owns 5,250 shares of the company’s stock valued at $338,000 after buying an additional 1,850 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Weis Markets in the first quarter valued at approximately $323,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Weis Markets in the first quarter valued at approximately $114,000.

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.