SG Americas Securities LLC increased its holdings in Medifast Inc (NYSE:MED) by 212.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,181 shares of the specialty retailer’s stock after purchasing an additional 2,841 shares during the quarter. SG Americas Securities LLC’s holdings in Medifast were worth $670,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Medifast by 122.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,794 shares of the specialty retailer’s stock worth $168,000 after purchasing an additional 987 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of Medifast by 9,949.4% in the first quarter. Summit Trail Advisors LLC now owns 174,859 shares of the specialty retailer’s stock worth $175,000 after purchasing an additional 173,119 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Medifast in the first quarter worth $224,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Medifast in the first quarter worth $237,000. Finally, SeaCrest Wealth Management LLC grew its stake in shares of Medifast by 37,500.0% in the second quarter. SeaCrest Wealth Management LLC now owns 1,504 shares of the specialty retailer’s stock worth $241,000 after purchasing an additional 1,500 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors.

Shares of MED opened at $255.94 on Thursday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 111.76, a PEG ratio of 2.78 and a beta of 0.31. Medifast Inc has a 12 month low of $54.23 and a 12 month high of $257.43.

Medifast (NYSE:MED) last issued its quarterly earnings results on Thursday, August 2nd. The specialty retailer reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.18. The business had revenue of $117.30 million for the quarter, compared to analysts’ expectations of $101.75 million. Medifast had a net margin of 10.87% and a return on equity of 37.25%. The business’s quarterly revenue was up 55.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. equities research analysts expect that Medifast Inc will post 4.5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Friday, September 21st will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 0.75%. Medifast’s dividend payout ratio (DPR) is currently 83.84%.

MED has been the topic of several analyst reports. Zacks Investment Research raised shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $229.00 price objective on the stock in a research note on Thursday, August 9th. DA Davidson upped their price target on shares of Medifast to $201.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Finally, ValuEngine cut shares of Medifast from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th.

Medifast Profile

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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