Russell Investments Group Ltd. Increases Position in Medifast, Inc. (NYSE:MED)

Russell Investments Group Ltd. boosted its holdings in shares of Medifast, Inc. (NYSE:MED – Get Rating) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,865 shares of the specialty retailer’s stock after acquiring an additional 871 shares during the period. Russell Investments Group Ltd. owned 0.15% of Medifast worth $1,830,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MED. BlackRock Inc. grew its stake in Medifast by 6.9% during the 1st quarter. BlackRock Inc. now owns 2,134,513 shares of the specialty retailer’s stock valued at $364,532,000 after acquiring an additional 138,602 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in Medifast during the 3rd quarter valued at about $11,336,000. Pacer Advisors Inc. purchased a new stake in Medifast during the 4th quarter valued at about $7,794,000. First Trust Advisors LP grew its stake in shares of Medifast by 56.0% in the 3rd quarter. First Trust Advisors LP now owns 113,541 shares of the specialty retailer’s stock valued at $12,303,000 after buying an additional 40,758 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Medifast by 84.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 57,878 shares of the specialty retailer’s stock valued at $6,272,000 after buying an additional 26,466 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Medifast Stock Performance

Shares of MED stock opened at $89.78 on Tuesday. The firm’s 50 day moving average price is $95.17 and its 200-day moving average price is $108.24. Medifast, Inc. has a one year low of $80.52 and a one year high of $192.44. The firm has a market cap of $977.43 million, a P/E ratio of 7.03 and a beta of 1.24.

Medifast (NYSE:MED – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The specialty retailer reported $3.67 EPS for the quarter, topping the consensus estimate of $2.40 by $1.27. Medifast had a net margin of 9.27% and a return on equity of 106.70%. The firm had revenue of $349.00 million for the quarter, compared to analyst estimates of $319.50 million. During the same period in the prior year, the business posted $3.59 EPS. The business’s revenue for the quarter was down 16.4% compared to the same quarter last year. As a group, research analysts predict that Medifast, Inc. will post 8.86 EPS for the current fiscal year.

Medifast Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 9th. Shareholders of record on Tuesday, March 28th were issued a dividend of $1.65 per share. The ex-dividend date was Monday, March 27th. This is a positive change from Medifast’s previous quarterly dividend of $1.64. This represents a $6.60 dividend on an annualized basis and a yield of 7.35%. Medifast’s dividend payout ratio is 51.68%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MED shares. DA Davidson dropped their price target on shares of Medifast from $94.00 to $71.00 in a research note on Tuesday, May 2nd. StockNews.com started coverage on shares of Medifast in a research note on Thursday, May 18th. They issued a “hold” rating for the company.

Insiders Place Their Bets

In other Medifast news, Director Jeffrey J. Brown bought 754 shares of Medifast stock in a transaction on Friday, May 5th. The shares were bought at an average cost of $89.74 per share, for a total transaction of $67,663.96. Following the acquisition, the director now directly owns 37,695 shares in the company, valued at $3,382,749.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Scott Schlackman sold 2,200 shares of Medifast stock in a transaction on Friday, March 10th. The shares were sold at an average price of $108.68, for a total transaction of $239,096.00. Following the sale, the director now directly owns 7,280 shares in the company, valued at approximately $791,190.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey J. Brown purchased 754 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were bought at an average price of $89.74 per share, for a total transaction of $67,663.96. Following the completion of the purchase, the director now directly owns 37,695 shares in the company, valued at $3,382,749.30. The disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.

About Medifast

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Medifast, Inc engages in the provision of healthy living products and programs. It offers the OPTAVIA brand, a lifestyle solution centered on developing new healthy habits through smaller, foundational changes called micro-habits. The firm’s product line includes bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups.