According to Zacks, “Weyco Group Inc. is engage in the business of the manufacture, purchase and distribution of men’s footwear. The principal brands of shoes sold are Nunn Bush, Brass Boot, and Stacy Adams. The company’s products consist of both mid-priced quality leather dress shoes which would be worn as a part of more formal and traditional attire and lower priced quality casual footwear of man-made materials or leather which would be used for leisure or less formal occasions. “
A number of other analysts also recently weighed in on WEYS. B. Riley restated a neutral rating and issued a $24.00 price objective on shares of Weyco Group in a report on Saturday, August 6th. TheStreet downgraded Weyco Group from a buy rating to a hold rating in a report on Wednesday, August 3rd.
Shares of Weyco Group (NASDAQ:WEYS) traded down 0.19% during mid-day trading on Thursday, hitting $26.55. The stock had a trading volume of 916 shares. The company has a market cap of $279.81 million, a P/E ratio of 17.49 and a beta of 0.54. Weyco Group has a 1-year low of $22.94 and a 1-year high of $29.18. The firm’s 50 day moving average price is $26.26 and its 200 day moving average price is $27.00.
Weyco Group (NASDAQ:WEYS) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.07. The company earned $56.90 million during the quarter, compared to analyst estimates of $63.98 million. Weyco Group had a net margin of 5.16% and a return on equity of 8.16%. Analysts predict that Weyco Group will post $1.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, August 29th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, August 25th. This represents a $0.84 dividend on an annualized basis and a yield of 3.16%. Weyco Group’s payout ratio is currently 56.00%.
A number of hedge funds have recently modified their holdings of the company. Coldstream Capital Management Inc. increased its stake in shares of Weyco Group by 174.3% in the second quarter. Coldstream Capital Management Inc. now owns 24,702 shares of the company’s stock worth $686,000 after buying an additional 15,697 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Weyco Group during the second quarter worth $316,000. Dimensional Fund Advisors LP increased its stake in shares of Weyco Group by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 362,393 shares of the company’s stock worth $10,067,000 after buying an additional 6,731 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Weyco Group during the first quarter worth $140,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Weyco Group by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 77,740 shares of the company’s stock worth $2,160,000 after buying an additional 3,024 shares during the last quarter. Hedge funds and other institutional investors own 32.00% of the company’s stock.
About Weyco Group
Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe.
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