Thrivent Financial for Lutherans reduced its holdings in Medifast, Inc. (NYSE:MED – Get Rating) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,208 shares of the specialty retailer’s stock after selling 181 shares during the quarter. Thrivent Financial for Lutherans owned about 0.10% of Medifast worth $1,293,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Captrust Financial Advisors grew its position in shares of Medifast by 114.6% in the 1st quarter. Captrust Financial Advisors now owns 648 shares of the specialty retailer’s stock worth $112,000 after buying an additional 346 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Medifast by 6,509.1% during the third quarter. Rockefeller Capital Management L.P. now owns 727 shares of the specialty retailer’s stock valued at $78,000 after purchasing an additional 716 shares in the last quarter. Hollencrest Capital Management bought a new stake in shares of Medifast during the fourth quarter valued at approximately $92,000. Tower Research Capital LLC TRC boosted its position in shares of Medifast by 76.6% during the third quarter. Tower Research Capital LLC TRC now owns 869 shares of the specialty retailer’s stock valued at $94,000 after purchasing an additional 377 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Medifast during the second quarter valued at approximately $228,000. 86.03% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
MED has been the topic of several research reports. DA Davidson dropped their price target on Medifast from $94.00 to $71.00 in a research report on Tuesday, May 2nd. StockNews.com initiated coverage on Medifast in a research report on Thursday, May 18th. They set a “hold” rating on the stock.
Medifast Trading Down 0.2 %
Medifast (NYSE:MED – Get Rating) last released its earnings results 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 return on equity of 106.70% and a net margin of 9.27%. The business had revenue of $349.00 million for the quarter, compared to the consensus estimate of $319.50 million. During the same period in the previous year, the company posted $3.59 earnings per share. The company’s revenue for the quarter was down 16.4% compared to the same quarter last year. On average, equities research analysts predict that Medifast, Inc. will post 8.86 EPS for the current year.
Medifast Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 9th. Stockholders of record on Tuesday, March 28th were paid a $1.65 dividend. The ex-dividend date was Monday, March 27th. This represents a $6.60 annualized dividend and a dividend yield of 7.35%. This is a boost from Medifast’s previous quarterly dividend of $1.64. Medifast’s payout ratio is currently 51.68%.
Insider Transactions at Medifast
In other Medifast news, Director Jeffrey J. Brown purchased 754 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was purchased 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 of the company’s stock, valued at $3,382,749.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Scott Schlackman sold 2,200 shares of the company’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $108.68, for a total transaction of $239,096.00. Following the completion of the sale, the director now owns 7,280 shares in the company, valued at $791,190.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey J. Brown acquired 754 shares of Medifast stock in a transaction that occurred on Friday, May 5th. The shares were purchased at an average price of $89.74 per share, with a total value of $67,663.96. Following the transaction, the director now owns 37,695 shares of the company’s stock, valued at approximately $3,382,749.30. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.
Medifast Company Profile
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.
- Get a free copy of the StockNews.com research report on Medifast (MED)
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