TIAA CREF Investment Management LLC raised its stake in Medifast (NYSE:MED) by 25.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,507 shares of the specialty retailer’s stock after purchasing an additional 30,593 shares during the quarter. TIAA CREF Investment Management LLC owned 1.28% of Medifast worth $10,647,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of MED. C M Bidwell & Associates Ltd. purchased a new stake in shares of Medifast in the fourth quarter worth approximately $101,000. LS Investment Advisors LLC raised its stake in shares of Medifast by 341.5% in the fourth quarter. LS Investment Advisors LLC now owns 1,691 shares of the specialty retailer’s stock worth $118,000 after purchasing an additional 1,308 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Medifast by 248.2% in the third quarter. Public Employees Retirement System of Ohio now owns 2,354 shares of the specialty retailer’s stock worth $140,000 after purchasing an additional 1,678 shares during the last quarter. Cigna Investments Inc. New purchased a new stake in shares of Medifast in the fourth quarter worth approximately $207,000. Finally, Burns J W & Co. Inc. NY purchased a new stake in shares of Medifast in the fourth quarter worth approximately $227,000. 88.14% of the stock is owned by hedge funds and other institutional investors.
In other Medifast news, Director Charles P. Connolly sold 8,000 shares of the stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $90.95, for a total transaction of $727,600.00. Following the completion of the transaction, the director now directly owns 45,342 shares of the company’s stock, valued at $4,123,854.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles P. Connolly sold 7,500 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $89.31, for a total value of $669,825.00. Following the transaction, the director now directly owns 40,342 shares of the company’s stock, valued at $3,602,944.02. The disclosure for this sale can be found here. Insiders have sold 35,500 shares of company stock valued at $3,086,425 over the last ninety days. 6.47% of the stock is currently owned by company insiders.
A number of analysts recently commented on the company. ValuEngine raised Medifast from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 2nd. Zacks Investment Research raised Medifast from a “hold” rating to a “strong-buy” rating and set a $97.00 price target for the company in a research report on Saturday, March 10th. DA Davidson increased their price target on Medifast to $108.00 and gave the company a “buy” rating in a research report on Thursday, March 8th. Finally, Sidoti raised Medifast from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 7th. One analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $86.67.
Shares of MED opened at $97.26 on Friday. The company has a market cap of $1,127.49, a P/E ratio of 42.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.28. Medifast has a 12 month low of $40.00 and a 12 month high of $98.51.
Medifast (NYSE:MED) last issued its quarterly earnings results on Tuesday, March 6th. The specialty retailer reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.12. The company had revenue of $78.01 million during the quarter, compared to the consensus estimate of $73.48 million. Medifast had a return on equity of 26.39% and a net margin of 9.19%. Medifast’s revenue was up 24.9% on a year-over-year basis. During the same period last year, the business posted $0.34 earnings per share. research analysts anticipate that Medifast will post 3.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 8th. Investors of record on Friday, March 30th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 28th. Medifast’s payout ratio is 83.84%.
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Medifast, Inc, through its subsidiaries, produces, distributes, and sells weight loss, weight management, healthy living products, and other consumable health and nutritional products. The company 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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