Chickasaw Capital Management LLC boosted its holdings in shares of Medifast Inc (NYSE:MED) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,498 shares of the specialty retailer’s stock after acquiring an additional 1,250 shares during the quarter. Chickasaw Capital Management LLC owned about 0.28% of Medifast worth $3,471,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Sandy Spring Bank acquired a new stake in Medifast during the second quarter worth $26,000. Financial Gravity Wealth Inc. grew its stake in shares of Medifast by 853.8% in the second quarter. Financial Gravity Wealth Inc. now owns 248 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 222 shares in the last quarter. Advisors Preferred LLC acquired a new stake in shares of Medifast in the second quarter valued at $49,000. Anderson Fisher LLC acquired a new stake in shares of Medifast in the second quarter valued at $80,000. Finally, Systematic Financial Management LP acquired a new stake in shares of Medifast in the second quarter valued at $94,000. 97.27% of the stock is owned by institutional investors.
MED has been the subject of a number of research reports. ValuEngine raised Medifast from a “sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group initiated coverage on Medifast in a research note on Thursday, July 25th. They issued a “buy” rating and a $130.00 price objective for the company. Zacks Investment Research cut Medifast from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, DA Davidson set a $250.00 price objective on Medifast and gave the company a “buy” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $178.00.
Medifast (NYSE:MED) last issued its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $1.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.04. Medifast had a return on equity of 61.06% and a net margin of 11.22%. The business had revenue of $187.10 million during the quarter, compared to analysts’ expectations of $181.74 million. During the same period in the previous year, the firm posted $1.16 earnings per share. The company’s revenue was up 59.5% on a year-over-year basis. Research analysts expect that Medifast Inc will post 6.86 earnings per share for the current fiscal year.
The business also recently announced a — dividend, which will be paid on Thursday, November 7th. Investors of record on Friday, September 27th will be issued a $0.75 dividend. The ex-dividend date is Thursday, September 26th. This represents a yield of 2.8%. Medifast’s dividend payout ratio (DPR) is presently 64.94%.
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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