Aperio Group LLC Grows Stake in Medifast Inc (MED)
Aperio Group LLC grew its stake in shares of Medifast Inc (NYSE:MED) by 39.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,119 shares of the specialty retailer’s stock after acquiring an additional 10,449 shares during the period. Aperio Group LLC owned about 0.31% of Medifast worth $2,204,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Medifast by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 659,896 shares of the specialty retailer’s stock valued at $27,366,000 after acquiring an additional 27,685 shares during the period. Vanguard Group Inc. grew its position in shares of Medifast by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 657,254 shares of the specialty retailer’s stock valued at $27,256,000 after acquiring an additional 13,982 shares during the period. Kennedy Capital Management Inc. grew its position in shares of Medifast by 4.8% during the 2nd quarter. Kennedy Capital Management Inc. now owns 398,063 shares of the specialty retailer’s stock valued at $16,508,000 after acquiring an additional 18,183 shares during the period. State Street Corp grew its position in shares of Medifast by 3.5% during the 2nd quarter. State Street Corp now owns 322,325 shares of the specialty retailer’s stock valued at $13,367,000 after acquiring an additional 10,854 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Medifast by 29.6% during the 2nd quarter. American Century Companies Inc. now owns 187,230 shares of the specialty retailer’s stock valued at $7,764,000 after acquiring an additional 42,710 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.
Medifast Inc (NYSE:MED) opened at $66.93 on Tuesday. The company has a market cap of $826.76, a P/E ratio of 34.13, a P/E/G ratio of 2.13 and a beta of 0.45. Medifast Inc has a fifty-two week low of $38.29 and a fifty-two week high of $71.73.
Medifast (NYSE:MED) last released its quarterly earnings data on Tuesday, November 7th. The specialty retailer reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.04. The company had revenue of $77.20 million during the quarter, compared to the consensus estimate of $74.94 million. Medifast had a net margin of 8.58% and a return on equity of 24.07%. Medifast’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. equities analysts predict that Medifast Inc will post 2.17 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, September 22nd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.91%. The ex-dividend date was Thursday, September 21st. Medifast’s payout ratio is 63.05%.
A number of research analysts have recently weighed in on the stock. DA Davidson assumed coverage on shares of Medifast in a research report on Wednesday, August 16th. They set a “buy” rating for the company. BidaskClub raised shares of Medifast from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research raised shares of Medifast from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Friday. Finally, Sidoti reaffirmed a “neutral” rating and issued a $55.00 price objective (up from $49.00) on shares of Medifast in a report on Thursday, September 21st.
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Medifast, Inc is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and nutritional products. Medifast product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins.
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