Medifast Inc (MED) Shares Bought by Dean Capital Management
Dean Capital Management grew its holdings in shares of Medifast Inc (NYSE:MED) by 40.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,350 shares of the specialty retailer’s stock after acquiring an additional 18,995 shares during the quarter. Dean Capital Management owned about 0.56% of Medifast worth $2,751,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Mason Street Advisors LLC boosted its position in shares of Medifast by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 2,604 shares of the specialty retailer’s stock valued at $116,000 after acquiring an additional 170 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Medifast during the 2nd quarter valued at about $108,000. Sei Investments Co. boosted its position in shares of Medifast by 95.9% during the 2nd quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock valued at $163,000 after acquiring an additional 1,920 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Medifast by 86.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock valued at $174,000 after acquiring an additional 1,939 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Medifast during the 2nd quarter valued at about $203,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.
Shares of Medifast Inc (MED) traded down 0.040% during mid-day trading on Thursday, hitting $61.785. The stock had a trading volume of 33,721 shares. The stock’s 50-day moving average is $57.25 and its 200 day moving average is $47.31. The company has a market cap of $737.10 million, a PE ratio of 31.048 and a beta of 0.46. Medifast Inc has a 12 month low of $36.70 and a 12 month high of $62.12.
Medifast (NYSE:MED) last released its earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.10. Medifast had a return on equity of 24.25% and a net margin of 8.62%. The firm had revenue of $75.70 million during the quarter, compared to analysts’ expectations of $71.96 million. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Medifast Inc will post $2.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 22nd will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 21st. Medifast’s payout ratio is presently 64.32%.
A number of brokerages have recently issued reports on MED. DA Davidson lifted their price target on Medifast from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, September 15th. BidaskClub upgraded Medifast from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. 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.
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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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