Texas Permanent School Fund raised its position in shares of Medifast Inc (NYSE:MED) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,830 shares of the specialty retailer’s stock after acquiring an additional 310 shares during the period. Texas Permanent School Fund’s holdings in Medifast were worth $979,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MED. Vanguard Group Inc boosted its holdings in Medifast by 30.7% during the third quarter. Vanguard Group Inc now owns 1,285,140 shares of the specialty retailer’s stock valued at $284,723,000 after acquiring an additional 301,532 shares during the period. Vanguard Group Inc. boosted its holdings in Medifast by 30.7% during the third quarter. Vanguard Group Inc. now owns 1,285,140 shares of the specialty retailer’s stock valued at $284,723,000 after acquiring an additional 301,532 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd boosted its holdings in Medifast by 109.4% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 303,665 shares of the specialty retailer’s stock valued at $37,964,000 after acquiring an additional 158,624 shares during the period. BlackRock Inc. boosted its holdings in Medifast by 9.8% during the third quarter. BlackRock Inc. now owns 1,692,494 shares of the specialty retailer’s stock valued at $374,972,000 after acquiring an additional 150,582 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Medifast by 140.1% during the third quarter. AQR Capital Management LLC now owns 132,132 shares of the specialty retailer’s stock valued at $29,274,000 after acquiring an additional 77,097 shares during the period. Institutional investors own 94.08% of the company’s stock.

In other news, Director Scott Schlackman sold 2,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $130.92, for a total transaction of $261,840.00. Following the completion of the transaction, the director now owns 7,045 shares of the company’s stock, valued at $922,331.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl E. Sassano sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $135.47, for a total transaction of $677,350.00. Following the transaction, the director now directly owns 13,156 shares of the company’s stock, valued at approximately $1,782,243.32. The disclosure for this sale can be found here. Insiders have sold 9,500 shares of company stock valued at $1,263,690 in the last ninety days. 4.30% of the stock is owned by company insiders.

Shares of MED opened at $136.31 on Friday. The stock has a market cap of $1.62 billion, a PE ratio of 29.50, a P/E/G ratio of 1.04 and a beta of 0.64. Medifast Inc has a 52 week low of $87.40 and a 52 week high of $260.98.

Medifast (NYSE:MED) last announced its quarterly earnings data on Tuesday, February 26th. The specialty retailer reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.09. The business had revenue of $145.80 million during the quarter, compared to analyst estimates of $141.86 million. Medifast had a net margin of 11.14% and a return on equity of 51.04%. The firm’s revenue for the quarter was up 86.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. Sell-side analysts forecast that Medifast Inc will post 6.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, March 29th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Thursday, March 28th. Medifast’s dividend payout ratio is currently 64.94%.

MED has been the subject of a number of recent analyst reports. ValuEngine cut shares of Medifast from a “hold” rating to a “sell” rating in a report on Monday, December 17th. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $146.00 price target for the company in a report on Tuesday, March 5th. Finally, Sidoti upped their price target on shares of Medifast from $211.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, February 27th.

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Medifast Company Profile

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.

Read More: SEC Filing

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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