Ativo Capital Management LLC maintained its stake in Medifast Inc (NYSE:MED) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,008 shares of the specialty retailer’s stock at the close of the second quarter. Ativo Capital Management LLC owned approximately 0.26% of Medifast worth $1,286,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of MED. Wells Fargo & Company MN lifted its stake in Medifast by 9.8% in the 1st quarter. Wells Fargo & Company MN now owns 92,211 shares of the specialty retailer’s stock valued at $4,092,000 after buying an additional 8,236 shares in the last quarter. American Century Companies Inc. lifted its stake in Medifast by 3.8% in the 1st quarter. American Century Companies Inc. now owns 144,520 shares of the specialty retailer’s stock valued at $6,412,000 after buying an additional 5,256 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Medifast by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 218,378 shares of the specialty retailer’s stock valued at $9,688,000 after buying an additional 3,975 shares in the last quarter. Comerica Bank lifted its stake in Medifast by 3.8% in the 1st quarter. Comerica Bank now owns 12,274 shares of the specialty retailer’s stock valued at $569,000 after buying an additional 453 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new position in Medifast in the 1st quarter valued at about $1,310,000. 89.48% of the stock is currently owned by hedge funds and other institutional investors.
MED has been the topic of a number of research reports. DA Davidson initiated coverage on shares of Medifast in a research note on Wednesday, August 16th. They issued a “buy” rating on the stock. BidaskClub raised shares of Medifast from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th.
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Medifast Inc (NYSE MED) opened at 56.99 on Thursday. The stock has a market capitalization of $679.89 million, a price-to-earnings ratio of 28.64 and a beta of 0.43. The firm has a 50-day moving average of $52.60 and a 200-day moving average of $45.49. Medifast Inc has a 1-year low of $36.70 and a 1-year high of $58.64.
Medifast (NYSE:MED) last issued its earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.10. Medifast had a net margin of 8.62% and a return on equity of 24.25%. The company had revenue of $75.70 million for the quarter, compared to analyst estimates of $71.96 million. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Medifast Inc will post $2.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 22nd will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, September 21st. Medifast’s dividend payout ratio (DPR) is presently 64.32%.
Medifast Company Profile
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.
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