Yorktown Management & Research Co Inc Increases Stock Holdings in Medifast Inc (NYSE:MED)

Yorktown Management & Research Co Inc boosted its position in Medifast Inc (NYSE:MED) by 9.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,900 shares of the specialty retailer’s stock after purchasing an additional 418 shares during the period. Yorktown Management & Research Co Inc’s holdings in Medifast were worth $629,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MED. Sandy Spring Bank purchased a new position in Medifast in the second quarter worth about $26,000. Financial Gravity Wealth Inc. boosted its position in Medifast by 853.8% in the second quarter. Financial Gravity Wealth Inc. now owns 248 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 222 shares during the last quarter. Macquarie Group Ltd. boosted its position in Medifast by 41.8% in the fourth quarter. Macquarie Group Ltd. now owns 339 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 100 shares during the last quarter. Systematic Financial Management LP purchased a new position in Medifast in the second quarter worth about $94,000. Finally, Convergence Investment Partners LLC purchased a new position in Medifast in the second quarter worth about $105,000. 98.18% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE MED traded up $3.43 during trading on Friday, hitting $101.49. The company had a trading volume of 329,000 shares, compared to its average volume of 378,872. The stock has a 50 day simple moving average of $112.65 and a 200 day simple moving average of $129.68. Medifast Inc has a 12 month low of $96.40 and a 12 month high of $260.98. The firm has a market capitalization of $1.16 billion, a P/E ratio of 21.97 and a beta of 0.71.

Medifast (NYSE:MED) last posted its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. Medifast had a return on equity of 61.06% and a net margin of 11.22%. The firm had revenue of $187.10 million for the quarter, compared to the consensus estimate of $181.74 million. During the same quarter last year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was up 59.5% compared to the same quarter last year. Equities analysts anticipate that Medifast Inc will post 6.86 EPS for the current fiscal year.

The business 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 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, June 27th. Medifast’s dividend payout ratio (DPR) is currently 64.94%.

Several brokerages have issued reports on MED. Jefferies Financial Group began coverage on Medifast in a research report on Thursday, July 25th. They issued a “buy” rating and a $130.00 target price on the stock. ValuEngine downgraded Medifast from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Finally, Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Tuesday, August 6th.

About Medifast

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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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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