Medifast Inc (MED) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP grew its position in Medifast Inc (NYSE:MED) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 659,896 shares of the specialty retailer’s stock after acquiring an additional 27,685 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.53% of Medifast worth $27,366,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in Medifast during the 2nd quarter worth $108,000. Sei Investments Co. grew its stake in Medifast by 95.9% during the 2nd quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock worth $163,000 after buying an additional 1,920 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Medifast by 86.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock worth $174,000 after buying an additional 1,939 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Medifast during the 2nd quarter worth $203,000. Finally, OppenheimerFunds Inc. bought a new position in Medifast during the 1st quarter worth $218,000. Institutional investors and hedge funds own 89.43% of the company’s stock.
A number of research analysts recently commented on MED shares. BidaskClub upgraded Medifast from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. DA Davidson began coverage on Medifast in a research note on Wednesday, August 16th. They set a “buy” rating for the company. Finally, Sidoti reiterated a “neutral” rating and set a $55.00 price target (up previously from $49.00) on shares of Medifast in a research report on Thursday, September 21st.
Medifast Inc (NYSE:MED) opened at $61.50 on Friday. The stock has a market capitalization of $737.88 million, a PE ratio of 31.08, a price-to-earnings-growth ratio of 1.94 and a beta of 0.45.
Medifast (NYSE:MED) last announced its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.10. The company had revenue of $75.70 million for the quarter, compared to analyst estimates of $71.96 million. Medifast had a net margin of 8.62% and a return on equity of 24.25%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. equities research analysts predict that Medifast Inc will post 2.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 22nd will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 21st. Medifast’s dividend payout ratio is presently 64.32%.
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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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