Medifast Inc (MED) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund cut its position in shares of Medifast Inc (NYSE:MED) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 8,063 shares of the specialty retailer’s stock after selling 60 shares during the period. Texas Permanent School Fund’s holdings in Medifast were worth $358,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MED. Russell Investments Group Ltd. acquired a new stake in shares of Medifast during the fourth quarter worth $4,651,000. LSV Asset Management increased its stake in shares of Medifast by 235.2% in the first quarter. LSV Asset Management now owns 73,066 shares of the specialty retailer’s stock worth $3,241,000 after buying an additional 51,266 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Medifast by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 610,364 shares of the specialty retailer’s stock worth $25,410,000 after buying an additional 39,961 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Medifast during the first quarter worth $1,310,000. Finally, State Street Corp increased its stake in shares of Medifast by 6.6% in the fourth quarter. State Street Corp now owns 313,217 shares of the specialty retailer’s stock worth $13,037,000 after buying an additional 19,298 shares in the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Medifast (NYSE:MED)

Shares of Medifast Inc (NYSE:MED) opened at 41.54 on Thursday. Medifast Inc has a 12-month low of $31.15 and a 12-month high of $47.35. The company’s 50 day moving average price is $43.36 and its 200 day moving average price is $43.08. The firm has a market cap of $495.45 million, a P/E ratio of 25.33 and a beta of 0.54.

Medifast (NYSE:MED) last announced its earnings results on Thursday, May 4th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. Medifast had a net margin of 7.23% and a return on equity of 24.94%. The company had revenue of $70.62 million during the quarter, compared to analyst estimates of $72.36 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts forecast that Medifast Inc will post $2.03 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Investors of record on Friday, June 23rd will be given a $0.32 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $1.28 annualized dividend and a yield of 3.08%. Medifast’s dividend payout ratio (DPR) is presently 77.58%.

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MED has been the topic of a number of research analyst reports. Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Friday, March 24th. Sidoti downgraded Medifast from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd.

About Medifast

Medifast, Inc is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and nutritional products. Medifast product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MED”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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