Mutual of America Capital Management LLC Buys 85 Shares of Medifast, Inc. (NYSE:MED)

Posted by MarketBeat News on Aug 2nd, 2022

Mutual of America Capital Management LLC increased its stake in shares of Medifast, Inc. (NYSE:MED – Get Rating) by 5.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,673 shares of the specialty retailer’s stock after acquiring an additional 85 shares during the period. Mutual of America Capital Management LLC’s holdings in Medifast were worth $286,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gladius Capital Management LP bought a new stake in Medifast during the fourth quarter worth about $96,000. Islay Capital Management LLC acquired a new position in Medifast during the fourth quarter worth approximately $133,000. PEAK6 Investments LLC increased its position in Medifast by 111.9% during the fourth quarter. PEAK6 Investments LLC now owns 959 shares of the specialty retailer’s stock worth $201,000 after buying an additional 9,015 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Medifast by 14.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,378 shares of the specialty retailer’s stock worth $289,000 after buying an additional 177 shares during the last quarter. Finally, Inspire Investing LLC acquired a new position in Medifast during the first quarter worth approximately $237,000. Institutional investors own 84.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MED shares. StockNews.com raised Medifast from a “hold” rating to a “buy” rating in a research report on Saturday. DA Davidson boosted their price target on Medifast from $341.00 to $352.00 and gave the stock a “buy” rating in a research report on Thursday, June 2nd.

Insider Activity

In related news, CEO Daniel R. Chard purchased 431 shares of Medifast stock in a transaction that occurred on Thursday, May 5th. The shares were acquired at an average price of $183.25 per share, with a total value of $78,980.75. Following the completion of the transaction, the chief executive officer now directly owns 108,598 shares of the company’s stock, valued at approximately $19,900,583.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jeffrey J. Brown purchased 315 shares of Medifast stock in a transaction that occurred on Thursday, May 5th. The shares were acquired at an average price of $183.25 per share, with a total value of $57,723.75. Following the completion of the transaction, the director now directly owns 35,539 shares of the company’s stock, valued at approximately $6,512,521.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel R. Chard purchased 431 shares of Medifast stock in a transaction that occurred on Thursday, May 5th. The shares were bought at an average cost of $183.25 per share, for a total transaction of $78,980.75. Following the transaction, the chief executive officer now directly owns 108,598 shares of the company’s stock, valued at $19,900,583.50. The disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.

Medifast Trading Up 4.4 %

Medifast stock opened at $175.61 on Tuesday. Medifast, Inc. has a 12 month low of $154.67 and a 12 month high of $295.38. The stock’s 50 day moving average is $177.77 and its 200-day moving average is $180.67. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 12.53 and a beta of 1.08.

Medifast (NYSE:MED – Get Rating) last posted its earnings results on Monday, May 2nd. The specialty retailer reported $3.59 EPS for the quarter, beating the consensus estimate of $3.56 by $0.03. Medifast had a return on equity of 81.42% and a net margin of 10.28%. The company had revenue of $417.60 million for the quarter, compared to the consensus estimate of $415.20 million. As a group, equities research analysts predict that Medifast, Inc. will post 15.74 earnings per share for the current fiscal year.

Medifast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Tuesday, June 28th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Monday, June 27th. Medifast’s payout ratio is 46.79%.

Medifast Company Profile

(Get Rating)

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. The company offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serves, shakes, smoothies, soft bakes, and soups under the OPTAVIA, Optimal Health by Take Shape for Life, and Flavors of Home brands.