Baird Financial Group Inc. Reduces Stock Position in Medifast, Inc. (NYSE:MED)

Baird Financial Group Inc. trimmed its holdings in shares of Medifast, Inc. (NYSE:MEDGet Rating) by 1.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,112 shares of the specialty retailer’s stock after selling 150 shares during the period. Baird Financial Group Inc.’s holdings in Medifast were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its holdings in Medifast by 40.4% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,935 shares of the specialty retailer’s stock valued at $330,000 after purchasing an additional 557 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Medifast by 5.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 1,673 shares of the specialty retailer’s stock valued at $286,000 after buying an additional 85 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Medifast by 8.7% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 13,820 shares of the specialty retailer’s stock worth $2,360,000 after acquiring an additional 1,102 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Medifast by 3.4% in the first quarter. Commonwealth Equity Services LLC now owns 5,299 shares of the specialty retailer’s stock valued at $905,000 after acquiring an additional 172 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Medifast by 207.2% in the first quarter. Victory Capital Management Inc. now owns 71,503 shares of the specialty retailer’s stock valued at $12,753,000 after acquiring an additional 48,231 shares in the last quarter. 87.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com cut Medifast from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson cut Medifast from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $278.00 to $106.00 in a research note on Friday, November 4th. Jefferies Financial Group lowered shares of Medifast from a “buy” rating to a “hold” rating and lowered their target price for the stock from $345.00 to $150.00 in a research report on Thursday, August 4th. Finally, TheStreet downgraded shares of Medifast from a “b” rating to a “c+” rating in a research report on Tuesday, August 23rd.

Insider Buying and Selling

In other news, Director Jeffrey J. Brown acquired 561 shares of the company’s stock in a transaction on Friday, November 4th. The shares were bought at an average cost of $105.06 per share, with a total value of $58,938.66. Following the purchase, the director now owns 36,499 shares of the company’s stock, valued at approximately $3,834,584.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Medifast Stock Down 0.2 %

Shares of MED stock opened at $118.45 on Friday. The stock’s 50-day moving average price is $115.22 and its 200 day moving average price is $147.14. The stock has a market capitalization of $1.29 billion, a PE ratio of 8.98 and a beta of 1.18. Medifast, Inc. has a 52-week low of $96.00 and a 52-week high of $230.72.

Medifast Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 8th. Stockholders of record on Tuesday, September 20th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 5.54%. The ex-dividend date was Monday, September 19th. Medifast’s dividend payout ratio (DPR) is presently 49.73%.

About Medifast

(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.

Featured Articles

Want to see what other hedge funds are holding MED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medifast, Inc. (NYSE:MEDGet Rating).

Institutional Ownership by Quarter for Medifast (NYSE:MED)

Receive News & Ratings for Medifast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medifast and related companies with MarketBeat.com's FREE daily email newsletter.