Capital Fund Management S.A. Purchases Shares of 19,600 Medifast Inc. (MED)
Capital Fund Management S.A. acquired a new stake in shares of Medifast Inc. (NYSE:MED) during the second quarter, Holdings Channel reports. The institutional investor acquired 19,600 shares of the company’s stock, valued at approximately $652,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Aperio Group LLC increased its stake in shares of Medifast by 3.1% in the first quarter. Aperio Group LLC now owns 22,292 shares of the company’s stock worth $673,000 after buying an additional 665 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Medifast by 250.7% in the first quarter. Prudential Financial Inc. now owns 88,951 shares of the company’s stock worth $2,685,000 after buying an additional 63,585 shares during the last quarter. AXA increased its stake in shares of Medifast by 47.3% in the first quarter. AXA now owns 35,800 shares of the company’s stock worth $1,081,000 after buying an additional 11,500 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Medifast by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 91,628 shares of the company’s stock worth $2,766,000 after buying an additional 7,638 shares during the last quarter. Finally, Kennedy Capital Management Inc. increased its stake in shares of Medifast by 124.1% in the first quarter. Kennedy Capital Management Inc. now owns 305,806 shares of the company’s stock worth $9,232,000 after buying an additional 169,343 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors.
Shares of Medifast Inc. (NYSE:MED) traded down 0.26% during trading on Tuesday, hitting $38.75. 71,541 shares of the stock traded hands. Medifast Inc. has a 52-week low of $27.12 and a 52-week high of $39.50. The stock has a 50 day moving average of $37.41 and a 200 day moving average of $34.14. The firm has a market cap of $459.11 million, a price-to-earnings ratio of 27.19 and a beta of 0.65.
Medifast (NYSE:MED) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.12. Medifast had a return on equity of 24.46% and a net margin of 6.29%. The business had revenue of $71.14 million for the quarter, compared to analyst estimates of $72.01 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Analysts expect that Medifast Inc. will post $1.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.58%. Medifast’s payout ratio is 69.44%.
MED has been the topic of several recent research reports. Wunderlich increased their price objective on shares of Medifast from $32.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, August 4th. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Thursday, August 11th.
Medifast Company Profile
Medifast, Inc (Medifast) is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and diet products. The Company operates through its subsidiaries, Jason Pharmaceuticals, Inc, Take Shape For Life, Inc, Jason Enterprises, Inc, Medifast Franchise Systems (MFSI), Inc, Jason Properties, LLC, Medifast Nutrition, Inc and Seven Crondall, LLC.
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