The Manufacturers Life Insurance Company Raises Holdings in NutriSystem Inc (NTRI)
The Manufacturers Life Insurance Company raised its position in NutriSystem Inc (NASDAQ:NTRI) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,121 shares of the company’s stock after buying an additional 760 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of NutriSystem worth $1,203,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Asset Management Americas Inc. grew its position in shares of NutriSystem by 16,410.3% in the first quarter. UBS Asset Management Americas Inc. now owns 6,439 shares of the company’s stock valued at $357,000 after purchasing an additional 6,400 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of NutriSystem by 1.5% in the first quarter. Alliancebernstein L.P. now owns 41,050 shares of the company’s stock valued at $2,278,000 after purchasing an additional 600 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of NutriSystem in the first quarter valued at $1,669,000. Vanguard Group Inc. grew its position in shares of NutriSystem by 14.7% in the first quarter. Vanguard Group Inc. now owns 1,635,465 shares of the company’s stock valued at $90,768,000 after purchasing an additional 209,852 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of NutriSystem by 10.4% in the first quarter. Geode Capital Management LLC now owns 251,588 shares of the company’s stock valued at $13,962,000 after purchasing an additional 23,746 shares in the last quarter. Hedge funds and other institutional investors own 92.48% of the company’s stock.
Shares of NutriSystem Inc (NASDAQ:NTRI) opened at $46.85 on Friday. NutriSystem Inc has a 52 week low of $31.60 and a 52 week high of $67.95. The stock has a market capitalization of $1,407.33, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05.
NutriSystem (NASDAQ:NTRI) last released its earnings results on Wednesday, October 25th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. NutriSystem had a return on equity of 49.69% and a net margin of 8.27%. The company had revenue of $158.10 million during the quarter, compared to analyst estimates of $155.21 million. During the same quarter in the previous year, the company posted $0.27 EPS. NutriSystem’s revenue for the quarter was up 26.9% on a year-over-year basis. equities analysts predict that NutriSystem Inc will post 1.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 6th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, November 3rd. NutriSystem’s dividend payout ratio (DPR) is presently 38.25%.
NutriSystem declared that its board has approved a share repurchase plan on Wednesday, October 25th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other NutriSystem news, insider Dawn M. Zier sold 30,121 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $52.27, for a total transaction of $1,574,424.67. Following the completion of the transaction, the insider now owns 214,646 shares of the company’s stock, valued at approximately $11,219,546.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay Herratti sold 3,799 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $60.00, for a total value of $227,940.00. The disclosure for this sale can be found here. In the last three months, insiders sold 62,255 shares of company stock valued at $3,332,250. 2.40% of the stock is currently owned by corporate insiders.
Several equities analysts have recently weighed in on the company. Lake Street Capital set a $73.00 price target on NutriSystem and gave the company a “buy” rating in a research report on Thursday, October 26th. Craig Hallum set a $80.00 price target on NutriSystem and gave the company a “buy” rating in a research report on Thursday, July 27th. B. Riley reiterated a “buy” rating and issued a $74.00 price target on shares of NutriSystem in a research report on Friday, July 28th. DA Davidson reiterated a “buy” rating and issued a $64.00 price target on shares of NutriSystem in a research report on Monday, July 24th. Finally, Barrington Research upgraded NutriSystem from a “market perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Monday, July 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $67.44.
NutriSystem Company Profile
Nutrisystem, Inc is a provider of weight management products and services, including nutritionally balanced weight loss programs, multi-day kits available at retail locations and digital tools to support weight loss. The Company’s program customers purchase monthly food packages containing four-week meal plan consisting supply of breakfasts, lunches, dinners and snacks and flex meal plan recipes, which they supplement with fresh fruits, vegetables and dairy.
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