Landscape Capital Management L.L.C. reduced its stake in shares of Medifast Inc (NYSE:MED) by 10.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,856 shares of the specialty retailer’s stock after selling 1,309 shares during the quarter. Landscape Capital Management L.L.C. owned 0.09% of Medifast worth $1,393,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Sandy Spring Bank acquired a new position in Medifast during the 2nd quarter valued at $26,000. Financial Gravity Wealth Inc. raised its stake in Medifast by 853.8% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 248 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 222 shares during the last quarter. Macquarie Group Ltd. raised its stake in Medifast by 41.8% during the 4th quarter. Macquarie Group Ltd. now owns 339 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 100 shares during the last quarter. Advisors Preferred LLC acquired a new position in Medifast during the 2nd quarter valued at $49,000. Finally, Systematic Financial Management LP acquired a new position in Medifast during the 2nd quarter valued at $94,000. Hedge funds and other institutional investors own 98.18% of the company’s stock.
MED has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Tuesday, August 6th. Jefferies Financial Group started coverage on shares of Medifast in a research note on Thursday, July 25th. They set a “buy” rating and a $130.00 target price for the company. Finally, ValuEngine cut shares of Medifast from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th.
Medifast (NYSE:MED) last announced its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Medifast had a net margin of 11.22% and a return on equity of 61.06%. The company had revenue of $187.10 million during the quarter, compared to analysts’ expectations of $181.74 million. During the same quarter in the prior year, the company posted $1.16 EPS. The business’s revenue was up 59.5% on a year-over-year basis. On average, analysts forecast that Medifast Inc will post 6.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Friday, June 28th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Thursday, June 27th. Medifast’s dividend payout ratio is 64.94%.
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. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.
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