MEDIFAST INC (MED) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. lowered its position in MEDIFAST INC (NYSE:MED) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,509 shares of the specialty retailer’s stock after selling 168 shares during the quarter. Principal Financial Group Inc. owned approximately 0.77% of MEDIFAST INC worth $3,795,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in MEDIFAST INC by 0.3% in the first quarter. Renaissance Technologies LLC now owns 954,000 shares of the specialty retailer’s stock worth $42,329,000 after purchasing an additional 2,500 shares in the last quarter. Engaged Capital LLC grew its stake in MEDIFAST INC by 2.2% in the first quarter. Engaged Capital LLC now owns 789,549 shares of the specialty retailer’s stock worth $35,032,000 after purchasing an additional 17,084 shares in the last quarter. Vanguard Group Inc. grew its stake in MEDIFAST INC by 3.7% in the first quarter. Vanguard Group Inc. now owns 643,272 shares of the specialty retailer’s stock worth $28,542,000 after purchasing an additional 22,740 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in MEDIFAST INC by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 632,211 shares of the specialty retailer’s stock worth $28,051,000 after purchasing an additional 21,847 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in MEDIFAST INC by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 218,378 shares of the specialty retailer’s stock worth $9,688,000 after purchasing an additional 3,975 shares in the last quarter. 89.48% of the stock is currently owned by institutional investors.
Shares of MEDIFAST INC (NYSE:MED) opened at 61.06 on Thursday. The firm’s 50-day moving average price is $56.44 and its 200 day moving average price is $46.68. MEDIFAST INC has a 12 month low of $36.70 and a 12 month high of $61.18. The company has a market cap of $728.45 million, a PE ratio of 30.68 and a beta of 0.46.
MEDIFAST INC (NYSE:MED) last posted its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.10. The business had revenue of $75.70 million during the quarter, compared to the consensus estimate of $71.96 million. MEDIFAST INC had a net margin of 8.62% and a return on equity of 24.25%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Equities research analysts anticipate that MEDIFAST INC will post $2.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 22nd will be paid a $0.32 dividend. The ex-dividend date is Thursday, September 21st. This represents a $1.28 annualized dividend and a dividend yield of 2.10%. MEDIFAST INC’s dividend payout ratio (DPR) is 64.32%.
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Several research analysts recently issued reports on the company. Sidoti reissued a “neutral” rating and issued a $55.00 price objective (up previously from $49.00) on shares of MEDIFAST INC in a research note on Thursday, September 21st. DA Davidson increased their price objective on MEDIFAST INC from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Finally, BidaskClub raised MEDIFAST INC from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th.
About MEDIFAST INC
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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