ARP Americas LP lessened its stake in Medifast Inc (NYSE:MED) by 26.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,429 shares of the specialty retailer’s stock after selling 871 shares during the period. ARP Americas LP’s holdings in Medifast were worth $337,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Campbell Newman Asset Management Inc. lifted its stake in shares of Medifast by 1.0% in the second quarter. Campbell Newman Asset Management Inc. now owns 8,367 shares of the specialty retailer’s stock valued at $1,161,000 after buying an additional 86 shares during the period. Mutual of America Capital Management LLC increased its holdings in shares of Medifast by 6.7% in the first quarter. Mutual of America Capital Management LLC now owns 1,659 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 104 shares in the last quarter. Eqis Capital Management Inc. grew its holdings in Medifast by 1.4% during the 1st quarter. Eqis Capital Management Inc. now owns 12,467 shares of the specialty retailer’s stock worth $1,254,000 after acquiring an additional 176 shares during the period. Aperio Group LLC grew its holdings in Medifast by 0.9% during the 1st quarter. Aperio Group LLC now owns 26,246 shares of the specialty retailer’s stock worth $1,640,000 after acquiring an additional 228 shares during the period. Finally, MBM Wealth Consultants LLC boosted its position in shares of Medifast by 7.4% during the first quarter. MBM Wealth Consultants LLC now owns 3,441 shares of the specialty retailer’s stock worth $215,000 after purchasing an additional 236 shares in the last quarter.
In other Medifast news, Director Michael C. Macdonald sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $90.74, for a total value of $453,700.00. Following the transaction, the director now directly owns 284,456 shares of the company’s stock, valued at $25,811,537.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Schlackman sold 3,119 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $107.55, for a total transaction of $335,448.45. Following the transaction, the director now directly owns 7,555 shares in the company, valued at $812,540.25. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.
NYSE MED traded up $1.12 on Friday, hitting $167.13. The company’s stock had a trading volume of 253,108 shares, compared to its average volume of 296,954. Medifast Inc has a 1-year low of $49.03 and a 1-year high of $170.42. The company’s 50-day moving average is $141.85 and its 200 day moving average is $100.44. The firm has a market cap of $1.97 billion, a PE ratio of 26.57 and a beta of 1.27.
Medifast (NYSE:MED) last posted its quarterly earnings data on Tuesday, May 5th. The specialty retailer reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.60. Medifast had a net margin of 10.41% and a return on equity of 65.66%. The company had revenue of $178.46 million during the quarter, compared to analysts’ expectations of $161.90 million. As a group, research analysts expect that Medifast Inc will post 7.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Tuesday, June 30th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Monday, June 29th. Medifast’s payout ratio is 75.84%.
MED has been the topic of several research reports. B. Riley started coverage on shares of Medifast in a research report on Thursday, June 25th. They issued a “buy” rating and a $164.00 price objective on the stock. DA Davidson boosted their price objective on shares of Medifast from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $110.00 price target on the stock in a research note on Tuesday, May 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Medifast currently has a consensus rating of “Hold” and an average price target of $112.50.
Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.
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