Weis Markets (WMK) Declares $0.34 Dividend

Weis Markets said on July 27, 2023 that its board of directors declared a regular quarterly dividend of $0.34 per share ($1.36 annualized). Previously, the company paid $0.34 per share.

Shareholders of record as of August 7, 2023 will receive the payment on August 21, 2023.

At the current share price of $65.59 / share, the stock's dividend yield is 2.07%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.40%, the lowest has been 1.37%, and the highest has been 3.49%. The standard deviation of yields is 0.56 (n=235).

The current dividend yield is 0.58 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.10%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 366 funds or institutions reporting positions in Weis Markets. This is a decrease of 9 owner(s) or 2.40% in the last quarter. Average portfolio weight of all funds dedicated to WMK is 0.09%, a decrease of 14.22%. Total shares owned by institutions increased in the last three months by 5.14% to 11,505K shares. The put/call ratio of WMK is 4.85, indicating a bearish outlook.

What are Other Shareholders Doing?

DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 653K shares representing 2.43% ownership of the company. No change in the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 508K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 503K shares, representing an increase of 0.92%. The firm decreased its portfolio allocation in WMK by 4.11% over the last quarter.

Envestnet Asset Management holds 496K shares representing 1.85% ownership of the company. In it's prior filing, the firm reported owning 14K shares, representing an increase of 97.17%. The firm decreased its portfolio allocation in WMK by 51.85% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 423K shares representing 1.57% ownership of the company. In it's prior filing, the firm reported owning 416K shares, representing an increase of 1.70%. The firm increased its portfolio allocation in WMK by 0.46% over the last quarter.

Renaissance Technologies holds 364K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 350K shares, representing an increase of 3.74%. The firm increased its portfolio allocation in WMK by 3.68% over the last quarter.

Weis Markets Background Information
(This description is provided by the company.)

Founded in 1912, Weis Markets, Inc. is a Mid Atlantic food retailer operating 198 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York West Virginia and Virginia.

Additional reading:

• WEIS MARKETS REPORTS FIRST QUARTER 2023 RESULTS Company’s first quarter comparable store sales increased 3.1 percent
• 10.1 – Employment Agreement, effective January 1, 2023, by and between Weis Markets, Inc. and Jonathan H. Weis.
• 10.2 – Weis Markets, Inc. Chief Executive Officer Incentive Award Plan, effective January 1, 2023.
• Exhibit 21 Subsidiaries of the Registrant
• WEIS MARKETS REPORTS FOURTH QUARTER AND FISCAL YEAR 2022 RESULTS Company’s fourth quarter comparable store sales increased 9.5 percent

This story originally appeared on Fintel.