Wellington Management Group LLP increased its position in shares of MEDIFAST INC (NYSE:MED) by 10.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,957 shares of the specialty retailer’s stock after buying an additional 4,903 shares during the period. Wellington Management Group LLP owned about 0.43% of MEDIFAST INC worth $2,261,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MED. Chicago Equity Partners LLC increased its position in shares of MEDIFAST INC by 0.3% in the first quarter. Chicago Equity Partners LLC now owns 17,370 shares of the specialty retailer’s stock worth $771,000 after buying an additional 50 shares during the last quarter. LSV Asset Management increased its position in shares of MEDIFAST INC 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 during the last quarter. Eqis Capital Management Inc. increased its position in shares of MEDIFAST INC by 58.2% in the first quarter. Eqis Capital Management Inc. now owns 25,571 shares of the specialty retailer’s stock worth $1,135,000 after buying an additional 9,406 shares during the last quarter. Bowling Portfolio Management LLC bought a new position in shares of MEDIFAST INC during the first quarter worth approximately $237,000. Finally, Wells Fargo & Company MN increased its position in shares of MEDIFAST INC by 9.8% in the first quarter. Wells Fargo & Company MN now owns 92,211 shares of the specialty retailer’s stock worth $4,092,000 after buying an additional 8,236 shares during the last quarter. 92.56% of the stock is currently owned by hedge funds and other institutional investors.
MEDIFAST INC (NYSE:MED) opened at 40.91 on Monday. The company’s 50-day moving average is $42.42 and its 200-day moving average is $43.11. MEDIFAST INC has a 12 month low of $33.75 and a 12 month high of $47.35. The stock has a market capitalization of $487.93 million, a P/E ratio of 24.95 and a beta of 0.50.
MEDIFAST INC (NYSE:MED) last announced its earnings results on Thursday, May 4th. The specialty retailer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. The firm had revenue of $70.62 million for the quarter, compared to the consensus estimate of $72.36 million. MEDIFAST INC had a net margin of 7.23% and a return on equity of 24.94%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Equities analysts anticipate that MEDIFAST INC will post $2.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Shareholders of record on Friday, June 23rd will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, June 21st. This represents a $1.28 annualized dividend and a yield of 3.13%. MEDIFAST INC’s dividend payout ratio (DPR) is currently 77.58%.
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A number of brokerages recently commented on MED. Sidoti downgraded shares of MEDIFAST INC from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 2nd. Zacks Investment Research raised shares of MEDIFAST INC from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Friday, March 24th.
About MEDIFAST INC
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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