Schroder Investment Management Group Has $1.43 Million Holdings in Medifast Inc (MED)
Schroder Investment Management Group cut its stake in Medifast Inc (NYSE:MED) by 59.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,921 shares of the specialty retailer’s stock after selling 34,469 shares during the quarter. Schroder Investment Management Group owned approximately 0.20% of Medifast worth $1,426,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Swiss National Bank raised its stake in shares of Medifast by 13.7% during the 2nd quarter. Swiss National Bank now owns 16,600 shares of the specialty retailer’s stock worth $688,000 after buying an additional 2,000 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Medifast by 197.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 89,606 shares of the specialty retailer’s stock worth $3,716,000 after buying an additional 59,437 shares during the period. Vanguard Group Inc. raised its stake in shares of Medifast by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 657,254 shares of the specialty retailer’s stock worth $27,256,000 after buying an additional 13,982 shares during the period. Alps Advisors Inc. acquired a new position in shares of Medifast during the 3rd quarter worth approximately $506,000. Finally, Marshall Wace North America L.P. raised its stake in shares of Medifast by 356.6% during the 2nd quarter. Marshall Wace North America L.P. now owns 103,812 shares of the specialty retailer’s stock worth $4,256,000 after buying an additional 81,075 shares during the period. 86.91% of the stock is owned by institutional investors.
Shares of Medifast Inc (MED) traded down $1.03 on Friday, hitting $71.76. The company had a trading volume of 80,600 shares, compared to its average volume of 98,453. Medifast Inc has a 52-week low of $39.97 and a 52-week high of $73.83. The stock has a market capitalization of $868.65, a PE ratio of 35.86, a price-to-earnings-growth ratio of 2.24 and a beta of 0.51.
Medifast (NYSE:MED) last issued its quarterly earnings results on Tuesday, November 7th. The specialty retailer reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.04. Medifast had a return on equity of 24.07% and a net margin of 8.58%. The firm had revenue of $77.20 million during the quarter, compared to analysts’ expectations of $74.94 million. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. equities analysts predict that Medifast Inc will post 2.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Friday, December 22nd will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.68%. This is a boost from Medifast’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, December 21st. Medifast’s payout ratio is presently 63.05%.
MED has been the subject of several research analyst reports. Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Friday, November 10th. DA Davidson boosted their price target on Medifast to $89.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Sidoti reiterated a “neutral” rating and set a $55.00 price target (up from $49.00) on shares of Medifast in a research report on Thursday, September 21st. ValuEngine cut Medifast from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, BidaskClub upgraded Medifast from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.33.
In other Medifast news, Director Glenn W. Welling sold 250,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $65.00, for a total value of $16,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glenn W. Welling sold 275,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $64.60, for a total value of $17,765,000.00. The disclosure for this sale can be found here. Insiders have sold 550,000 shares of company stock valued at $34,019,500 over the last quarter. 6.47% of the stock is owned by company insiders.
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Medifast Company Profile
Medifast, Inc produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. The Company’s product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins.
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