Allspring Global Investments Holdings LLC lowered its holdings in Medifast, Inc. (NYSE:MED – Get Rating) by 1.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,094 shares of the specialty retailer’s stock after selling 200 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Medifast were worth $1,201,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MED. Wipfli Financial Advisors LLC purchased a new position in Medifast in the third quarter worth approximately $70,000. Janney Montgomery Scott LLC lifted its position in shares of Medifast by 4.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 5,761 shares of the specialty retailer’s stock worth $624,000 after buying an additional 271 shares during the last quarter. Versor Investments LP lifted its position in shares of Medifast by 20.0% during the 3rd quarter. Versor Investments LP now owns 4,179 shares of the specialty retailer’s stock worth $453,000 after buying an additional 696 shares during the last quarter. AE Wealth Management LLC purchased a new stake in shares of Medifast during the 3rd quarter worth approximately $230,000. Finally, MBM Wealth Consultants LLC lifted its position in shares of Medifast by 22.7% during the 3rd quarter. MBM Wealth Consultants LLC now owns 4,325 shares of the specialty retailer’s stock worth $480,000 after buying an additional 799 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.
Analyst Ratings Changes
MED has been the subject of several recent analyst reports. DA Davidson downgraded shares of Medifast from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $278.00 to $106.00 in a research report on Friday, November 4th. StockNews.com upgraded shares of Medifast from a “hold” rating to a “buy” rating in a research report on Friday, December 2nd.
Medifast Stock Performance
Medifast (NYSE:MED – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The specialty retailer reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $1.41. The company had revenue of $390.40 million for the quarter. Medifast had a net margin of 9.22% and a return on equity of 89.82%. Sell-side analysts predict that Medifast, Inc. will post 13 EPS for the current year.
Medifast Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 7th. Stockholders of record on Tuesday, December 20th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, December 19th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.55%. Medifast’s dividend payout ratio (DPR) is presently 49.73%.
Insider Transactions at Medifast
In related news, Director Jeffrey J. Brown purchased 561 shares of the stock in a transaction dated Friday, November 4th. The shares were acquired at an average cost of $105.06 per share, with a total value of $58,938.66. Following the purchase, the director now directly owns 36,499 shares in the company, valued at approximately $3,834,584.94. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.
Medifast Company Profile
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.
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