Medifast Inc Plans Quarterly Dividend of $0.48 (MED)

Medifast Inc (NYSE:MED) declared a quarterly dividend on Thursday, September 6th, NASDAQ reports. Stockholders of record on Friday, September 21st will be paid a dividend of 0.48 per share by the specialty retailer on Thursday, November 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Thursday, September 20th.

Medifast has a payout ratio of 42.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Medifast to earn $5.85 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 32.8%.

Shares of MED stock traded down $3.27 during mid-day trading on Friday, reaching $248.98. The company’s stock had a trading volume of 173,915 shares, compared to its average volume of 171,447. Medifast has a 1-year low of $55.20 and a 1-year high of $260.98. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 108.72, a P/E/G ratio of 2.84 and a beta of 0.31.

Medifast (NYSE:MED) last announced its quarterly earnings data on Thursday, August 2nd. The specialty retailer reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. Medifast had a net margin of 10.87% and a return on equity of 37.25%. The company had revenue of $117.30 million during the quarter, compared to analysts’ expectations of $101.75 million. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue was up 55.0% on a year-over-year basis. research analysts forecast that Medifast will post 4.5 EPS for the current year.

MED has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $229.00 price objective for the company in a research note on Thursday, August 9th. DA Davidson increased their price objective on shares of Medifast to $249.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, ValuEngine upgraded shares of Medifast from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 4th.

Medifast Company Profile

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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Dividend History for Medifast (NYSE:MED)

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