APG Asset Management N.V. purchased a new position in Medifast Inc (NYSE:MED) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 11,500 shares of the specialty retailer’s stock, valued at approximately $1,306,000. APG Asset Management N.V. owned 0.10% of Medifast at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC acquired a new stake in Medifast in the 4th quarter valued at about $26,000. Carroll Financial Associates Inc. bought a new stake in Medifast during the first quarter worth approximately $38,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Medifast by 53.9% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 697 shares of the specialty retailer’s stock worth $76,000 after buying an additional 244 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in shares of Medifast by 47.6% in the first quarter. Toth Financial Advisory Corp now owns 1,240 shares of the specialty retailer’s stock valued at $78,000 after buying an additional 400 shares in the last quarter. Finally, Islay Capital Management LLC bought a new position in shares of Medifast in the fourth quarter valued at $79,000.
In related news, Director Scott Schlackman sold 3,119 shares of Medifast stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $107.55, for a total value of $335,448.45. Following the completion of the sale, the director now owns 7,555 shares of the company’s stock, valued at approximately $812,540.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael C. Macdonald sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $90.74, for a total transaction of $453,700.00. Following the completion of the sale, the director now owns 284,456 shares of the company’s stock, valued at $25,811,537.44. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
Medifast (NYSE:MED) last posted its quarterly earnings results on Tuesday, May 5th. The specialty retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.60. Medifast had a return on equity of 65.66% and a net margin of 10.41%. The firm had revenue of $178.46 million for the quarter, compared to analyst estimates of $161.90 million. Analysts expect that Medifast Inc will post 7.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Tuesday, June 30th will be paid a $1.13 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.52 annualized dividend and a dividend yield of 3.26%. Medifast’s payout ratio is 75.84%.
MED has been the topic of a number of recent research reports. Zacks Investment Research upgraded Medifast from a “hold” rating to a “strong-buy” rating and set a $110.00 target price on the stock in a report on Tuesday, May 12th. B. Riley started coverage on Medifast in a research note on Thursday, June 25th. They issued a “buy” rating and a $164.00 price target on the stock. Finally, DA Davidson upped their price objective on shares of Medifast from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $112.50.
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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