Morgan Stanley reduced its position in Medifast Inc (NYSE:MED) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,856 shares of the specialty retailer’s stock after selling 3,260 shares during the period. Morgan Stanley’s holdings in Medifast were worth $4,386,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MED. Vanguard Group Inc. increased its stake in Medifast 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 buying an additional 22,740 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Medifast 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 buying an additional 21,847 shares during the last quarter. Acadian Asset Management LLC increased its stake in Medifast by 2.8% in the first quarter. Acadian Asset Management LLC now owns 466,550 shares of the specialty retailer’s stock worth $20,704,000 after buying an additional 12,809 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Medifast 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 buying an additional 3,975 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Medifast by 3.8% in the first quarter. American Century Companies Inc. now owns 144,520 shares of the specialty retailer’s stock worth $6,412,000 after buying an additional 5,256 shares during the last quarter. Institutional investors own 91.71% of the company’s stock.

Medifast Inc (NYSE:MED) traded up 2.25% during midday trading on Friday, reaching $50.87. The company’s stock had a trading volume of 174,473 shares. Medifast Inc has a one year low of $35.55 and a one year high of $51.07. The firm has a 50 day moving average price of $42.47 and a 200 day moving average price of $43.33. The firm has a market cap of $606.88 million, a P/E ratio of 25.56 and a beta of 0.48.

Medifast (NYSE:MED) last posted its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.10. Medifast had a net margin of 10.01% and a return on equity of 29.92%. The company had revenue of $75.70 million for the quarter, compared to analyst estimates of $71.96 million. During the same period in the prior year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts forecast that Medifast Inc will post $2.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Friday, June 23rd were paid a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $1.28 dividend on an annualized basis and a yield of 2.52%. Medifast’s dividend payout ratio is currently 64.32%.

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A number of equities research analysts have weighed in on the company. BidaskClub upgraded Medifast from a “strong sell” rating to a “sell” rating in a research report on Friday. Sidoti downgraded Medifast from a “buy” rating to a “neutral” rating in a research report 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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