Goldman Sachs Group Inc. reduced its stake in shares of Medifast Inc (NYSE:MED) by 34.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,169 shares of the specialty retailer’s stock after selling 15,964 shares during the period. Goldman Sachs Group Inc.’s holdings in Medifast were worth $1,339,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MED. Caxton Associates LP acquired a new stake in shares of Medifast during the first quarter valued at about $472,000. Highbridge Capital Management LLC acquired a new stake in shares of Medifast during the first quarter valued at about $897,000. Bank of America Corp DE raised its stake in shares of Medifast by 501.5% in the first quarter. Bank of America Corp DE now owns 51,353 shares of the specialty retailer’s stock valued at $2,278,000 after buying an additional 42,815 shares during the last quarter. Dean Capital Management raised its stake in shares of Medifast by 14.2% in the first quarter. Dean Capital Management now owns 47,355 shares of the specialty retailer’s stock valued at $2,102,000 after buying an additional 5,895 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Medifast by 5.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 42,743 shares of the specialty retailer’s stock valued at $1,897,000 after buying an additional 2,223 shares during the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Shares of Medifast Inc (NYSE:MED) traded up 8.78% during midday trading on Wednesday, reaching $48.09. 139,824 shares of the company’s stock traded hands. The company has a 50 day moving average of $41.67 and a 200 day moving average of $43.10. The firm has a market cap of $573.57 million, a PE ratio of 29.32 and a beta of 0.48. Medifast Inc has a 52-week low of $34.86 and a 52-week high of $48.46.

Medifast (NYSE:MED) last announced its earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.10. Medifast had a net margin of 7.23% and a return on equity of 24.94%. The business had revenue of $75.70 million during the quarter, compared to analyst estimates of $71.96 million. During the same period in the previous year, the business posted $0.63 earnings per share. Medifast’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts predict that Medifast Inc will post $2.02 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Shareholders of record on Friday, June 23rd will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $1.28 annualized dividend and a yield of 2.90%. Medifast’s payout ratio is presently 77.58%.

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Separately, Sidoti lowered shares of Medifast from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 2nd.

Medifast Company Profile

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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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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