Medifast Inc (MED) Position Reduced by KBC Group NV
KBC Group NV lessened its holdings in Medifast Inc (NYSE:MED) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,198 shares of the specialty retailer’s stock after selling 902 shares during the quarter. KBC Group NV owned approximately 0.17% of Medifast worth $1,199,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Swiss National Bank boosted its stake in shares of Medifast by 13.7% during the second quarter. Swiss National Bank now owns 16,600 shares of the specialty retailer’s stock worth $688,000 after buying an additional 2,000 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Medifast by 197.0% during the second quarter. Goldman Sachs Group Inc. now owns 89,606 shares of the specialty retailer’s stock worth $3,716,000 after buying an additional 59,437 shares during the period. Vanguard Group Inc. boosted its stake in shares of Medifast by 2.2% during the second quarter. Vanguard Group Inc. now owns 657,254 shares of the specialty retailer’s stock worth $27,256,000 after buying an additional 13,982 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Medifast during the third quarter worth about $506,000. Finally, Marshall Wace North America L.P. boosted its stake in shares of Medifast by 356.6% during the second quarter. Marshall Wace North America L.P. now owns 103,812 shares of the specialty retailer’s stock worth $4,256,000 after buying an additional 81,075 shares during the period. 86.91% of the stock is currently owned by hedge funds and other institutional investors.
In other Medifast news, Director Glenn W. Welling sold 275,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $64.60, for a total value of $17,765,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenn W. Welling sold 250,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $65.00, for a total transaction of $16,250,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 550,000 shares of company stock valued at $34,019,500. 6.47% of the stock is owned by insiders.
Shares of Medifast Inc (MED) traded up $1.26 during trading hours on Thursday, reaching $72.79. 137,500 shares of the company were exchanged, compared to its average volume of 98,528. The firm has a market capitalization of $853.61, a P/E ratio of 35.24, a P/E/G ratio of 2.20 and a beta of 0.51. Medifast Inc has a 1 year low of $39.97 and a 1 year high of $73.83.
Medifast (NYSE:MED) last announced its quarterly earnings data on Tuesday, November 7th. The specialty retailer reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.04. The firm 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%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. analysts anticipate that Medifast Inc will post 2.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Friday, December 22nd will be given a $0.48 dividend. The ex-dividend date is Thursday, December 21st. This represents a $1.92 dividend on an annualized basis and a yield of 2.64%. This is an increase from Medifast’s previous quarterly dividend of $0.32. Medifast’s dividend payout ratio (DPR) is presently 63.05%.
Several equities research analysts have recently weighed in on MED shares. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Friday, November 10th. DA Davidson raised their price objective on shares of Medifast from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, September 15th. ValuEngine downgraded shares of Medifast from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub upgraded shares of Medifast from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, Sidoti restated a “neutral” rating and issued a $55.00 price objective (up previously from $49.00) on shares of Medifast in a research report on Thursday, September 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Medifast presently has an average rating of “Hold” and an average price target of $74.33.
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Medifast, Inc produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. The Company’s product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins.
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