Medifast Inc (MED) To Go Ex-Dividend on December 21st

Medifast Inc (NYSE:MED) declared a quarterly dividend on Thursday, December 7th, Wall Street Journal reports. Stockholders of record on Friday, December 22nd will be given a dividend of 0.48 per share by the specialty retailer on Thursday, February 8th. This represents a $1.92 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, December 21st. This is an increase from Medifast’s previous quarterly dividend of $0.32.

Medifast has a payout ratio of 88.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Medifast to earn $2.60 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 73.8%.

Medifast (NYSE:MED) opened at $72.58 on Wednesday. The company has a market capitalization of $876.65, a PE ratio of 36.19, a PEG ratio of 2.26 and a beta of 0.51. Medifast has a twelve month low of $40.00 and a twelve month high of $74.78.

Medifast (NYSE:MED) last released its quarterly earnings data on Tuesday, November 7th. The specialty retailer reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.04. The firm had revenue of $77.20 million for the quarter, compared to the consensus estimate of $74.94 million. Medifast had a return on equity of 24.07% and a net margin of 8.58%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. analysts expect that Medifast will post 2.17 earnings per share for the current fiscal year.

Several research firms have recently commented on MED. ValuEngine downgraded Medifast from a “buy” rating to a “hold” rating in a report on Friday, December 1st. DA Davidson lifted their price objective on Medifast from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, September 15th. Sidoti reiterated a “neutral” rating and issued a $55.00 price objective (up previously from $49.00) on shares of Medifast in a report on Thursday, September 21st. Finally, Zacks Investment Research upgraded Medifast from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $74.33.

In related news, Director Glenn W. Welling sold 275,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $64.60, for a total transaction of $17,765,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Glenn W. Welling sold 250,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $65.00, for a total value of $16,250,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 550,000 shares of company stock worth $34,019,500. 5.40% of the stock is owned by company insiders.

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Medifast Company Profile

Medifast, Inc produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. The Company’s product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins.

Dividend History for Medifast (NYSE:MED)

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