Ameriprise Financial Inc. continued to hold its stake in Weis Markets, Inc. (NYSE:WMK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,642 shares of the company’s stock at the close of the second quarter. Ameriprise Financial Inc. owned 0.16% of Weis Markets worth $2,126,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in WMK. First Trust Advisors LP increased its holdings in shares of Weis Markets by 35.7% in the second quarter. First Trust Advisors LP now owns 450,435 shares of the company’s stock valued at $21,945,000 after purchasing an additional 118,394 shares during the period. Royce & Associates LP increased its holdings in shares of Weis Markets by 3.6% in the second quarter. Royce & Associates LP now owns 1,420,500 shares of the company’s stock valued at $69,207,000 after purchasing an additional 49,500 shares during the period. Morgan Dempsey Capital Management LLC increased its holdings in shares of Weis Markets by 55.4% in the second quarter. Morgan Dempsey Capital Management LLC now owns 103,993 shares of the company’s stock valued at $5,067,000 after purchasing an additional 37,082 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Weis Markets by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 469,552 shares of the company’s stock valued at $22,876,000 after purchasing an additional 16,756 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in shares of Weis Markets in the second quarter valued at about $747,000. 31.34% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub lowered Weis Markets from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th.
In other news, CFO Scott F. Frost bought 600 shares of Weis Markets stock in a transaction dated Monday, September 18th. The stock was acquired at an average cost of $42.85 per share, with a total value of $25,710.00. Following the acquisition, the chief financial officer now owns 1,961 shares of the company’s stock, valued at $84,028.85. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Kurt A. Schertle bought 1,000 shares of Weis Markets stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $45.47 per share, with a total value of $45,470.00. Following the completion of the acquisition, the chief operating officer now directly owns 1,000 shares in the company, valued at approximately $45,470. The disclosure for this purchase can be found here. Insiders bought a total of 2,625 shares of company stock valued at $116,570 over the last three months. Company insiders own 26.90% of the company’s stock.
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Weis Markets (NYSE:WMK) last posted its earnings results on Wednesday, August 2nd. The company reported $0.69 earnings per share for the quarter. Weis Markets had a return on equity of 8.89% and a net margin of 2.42%. The business had revenue of $876.57 million during the quarter.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, November 3rd. Weis Markets’s payout ratio is currently 39.34%.
Weis Markets Profile
Weis Markets, Inc is engaged principally in the retail sale of food 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, fuel and general merchandise items, such as health and beauty care and household products.
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