Key Points
- Director Frederick Stratton Jr. sold 2,030 Weyco Group shares at an average $61.70 each, totaling $125,251. After the sale, he held 415 shares, an 83.03% reduction in his stake.
- Weyco reported quarterly earnings of $1.19 per share on revenue of $77.02 million. The company also announced a quarterly dividend of $0.28 per share, equivalent to a 1.8% yield.
- WEYS opened at $60.68 and had a market capitalization of about $579.55 million; analysts cited in the article gave the stock a consensus “Buy” rating.
Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) Director Frederick Stratton, Jr. sold 2,030 shares of the business's stock in a transaction on Friday, November 6th. The shares were sold at an average price of $61.70, for a total transaction of $125,251.00. Following the sale, the director owned 415 shares of the company's stock, valued at approximately $25,605.50. This represents a 83.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Weyco Group Price Performance
NASDAQ WEYS opened at $60.68 on Wednesday. The stock has a market capitalization of $579.55 million, a price-to-earnings ratio of 14.69 and a beta of 0.91. Weyco Group, Inc. has a 1-year low of $27.25 and a 1-year high of $68.39. The business's fifty day moving average price is $50.09 and its 200-day moving average price is $39.54.
Weyco Group (NASDAQ:WEYS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The textile maker reported $1.19 EPS for the quarter. The company had revenue of $77.02 million during the quarter. Weyco Group had a return on equity of 15.83% and a net margin of 13.96%.
Weyco Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Tuesday, November 17th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, November 17th. Weyco Group's dividend payout ratio (DPR) is presently 27.12%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on WEYS shares. Weiss Ratings upgraded Weyco Group from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, August 21st. Wall Street Zen upgraded shares of Weyco Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, Weyco Group presently has a consensus rating of "Buy".
View Our Latest Stock Analysis on WEYS
Institutional Investors Weigh In On Weyco Group
Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC bought a new position in Weyco Group in the 3rd quarter worth $49,000. Deutsche Bank AG purchased a new position in Weyco Group during the second quarter valued at $235,000. Ritholtz Wealth Management grew its holdings in Weyco Group by 13.6% during the third quarter. Ritholtz Wealth Management now owns 23,083 shares of the textile maker's stock valued at $1,117,000 after purchasing an additional 2,755 shares during the period. Associated Banc Corp bought a new stake in Weyco Group during the third quarter valued at about $2,164,000. Finally, Empowered Funds LLC bought a new stake in Weyco Group during the second quarter valued at about $2,116,000. 23.59% of the stock is currently owned by hedge funds and other institutional investors.
About Weyco Group
(
Get Free Report)
Weyco Group, Inc. is a footwear company that designs, sources, markets and distributes branded men's shoes and accessories. Its portfolio includes Florsheim, Nunn Bush, Stacy Adams, BOGS and Forsake, serving dress, casual, outdoor and work-oriented footwear markets. The company sells its products through department stores, specialty footwear retailers, independent retailers, e-commerce platforms and its own branded websites. Its business is organized around wholesale and direct-to-consumer channels, with products distributed primarily in North America and also in select international markets, including Europe and Australia.
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