Campbell & CO Investment Adviser LLC bought a new stake in Medifast Inc (NYSE:MED) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,200 shares of the specialty retailer’s stock, valued at approximately $362,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MED. State Street Corp grew its holdings in Medifast by 5.4% during the 1st quarter. State Street Corp now owns 348,876 shares of the specialty retailer’s stock worth $22,197,000 after acquiring an additional 17,732 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Medifast by 12.6% during the second quarter. Principal Financial Group Inc. now owns 198,336 shares of the specialty retailer’s stock worth $27,523,000 after purchasing an additional 22,148 shares in the last quarter. Geode Capital Management LLC increased its holdings in Medifast by 5.4% in the first quarter. Geode Capital Management LLC now owns 168,261 shares of the specialty retailer’s stock valued at $10,516,000 after buying an additional 8,642 shares during the last quarter. Nordea Investment Management AB increased its holdings in Medifast by 100.0% in the second quarter. Nordea Investment Management AB now owns 101,822 shares of the specialty retailer’s stock valued at $14,148,000 after buying an additional 50,909 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Medifast by 32.4% in the first quarter. Deutsche Bank AG now owns 98,986 shares of the specialty retailer’s stock valued at $6,186,000 after buying an additional 24,221 shares in the last quarter.
MED has been the topic of a number of recent analyst reports. ValuEngine downgraded Medifast from a “hold” rating to a “sell” rating in a report on Thursday, October 8th. DA Davidson raised their price objective on shares of Medifast from $86.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Zacks Investment Research downgraded shares of Medifast from a “buy” rating to a “hold” rating and set a $174.00 price objective for the company. in a research report on Monday, October 12th. B. Riley increased their target price on shares of Medifast from $220.00 to $230.00 in a research report on Friday, October 9th. Finally, Jefferies Financial Group upgraded shares of Medifast to a “buy” rating and set a $210.00 price target on the stock in a research note on Thursday, October 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $198.50.
Medifast (NYSE:MED) last issued its quarterly earnings results on Wednesday, August 5th. The specialty retailer reported $1.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.12. The firm had revenue of $220.00 million during the quarter, compared to analysts’ expectations of $194.75 million. Medifast had a net margin of 10.04% and a return on equity of 68.55%. On average, equities research analysts expect that Medifast Inc will post 8.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Tuesday, September 22nd will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, September 21st. Medifast’s dividend payout ratio is currently 75.84%.
In other Medifast news, Director Michael C. Macdonald sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $165.37, for a total transaction of $826,850.00. Following the completion of the sale, the director now directly owns 271,002 shares of the company’s stock, valued at approximately $44,815,600.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.00% of the company’s stock.
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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