Weis Markets (NYSE:WMK) Shares Pass Below 200 Day Moving Average – Should You Sell?

Weis Markets, Inc. (NYSE:WMK)’s share price passed 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 changing hands.

Analyst Upgrades and Downgrades

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 stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 19.12 and a beta of 0.52. The business has a fifty day moving average of $70.21 and a 200-day moving average of $68.13.

Weis Markets Dividend Announcement

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

Hedge Funds Weigh In On Weis Markets

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC increased its stake in Weis Markets by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 400 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Weis Markets by 6,800.0% in the third quarter. International Assets Investment Management LLC now owns 414 shares of the company’s stock worth $29,000 after acquiring an additional 408 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Weis Markets during the third quarter valued at approximately $44,000. Blue Trust Inc. boosted its position in shares of Weis Markets by 71.4% in the third quarter. Blue Trust Inc. now owns 646 shares of the company’s stock worth $41,000 after buying an additional 269 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Weis Markets during the second quarter valued at $82,000.

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.