Medifast Inc (MED) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Medifast Inc (NYSE:MED) by 38.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,690 shares of the specialty retailer’s stock after selling 1,063 shares during the quarter. SG Americas Securities LLC’s holdings in Medifast were worth $100,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MED. American Century Companies Inc. raised its stake in Medifast by 60.8% during the 3rd quarter. American Century Companies Inc. now owns 301,115 shares of the specialty retailer’s stock valued at $17,877,000 after purchasing an additional 113,885 shares during the last quarter. Principal Financial Group Inc. raised its stake in Medifast by 81.7% during the 3rd quarter. Principal Financial Group Inc. now owns 166,311 shares of the specialty retailer’s stock valued at $9,874,000 after purchasing an additional 74,802 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Medifast by 197.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 89,606 shares of the specialty retailer’s stock valued at $3,716,000 after purchasing an additional 59,437 shares during the last quarter. Citadel Advisors LLC raised its stake in Medifast by 536.3% during the 2nd quarter. Citadel Advisors LLC now owns 50,305 shares of the specialty retailer’s stock valued at $2,086,000 after purchasing an additional 42,399 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in Medifast by 171.4% during the 2nd quarter. Schroder Investment Management Group now owns 58,390 shares of the specialty retailer’s stock valued at $2,412,000 after purchasing an additional 36,879 shares during the last quarter. Hedge funds and other institutional investors own 86.91% of the company’s stock.

MED has been the subject of several research analyst reports. DA Davidson upped their target price on shares of Medifast from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, September 15th. Sidoti reiterated a “neutral” rating and set a $55.00 target price (up from $49.00) on shares of Medifast in a research note on Thursday, September 21st. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Friday, November 10th. Finally, ValuEngine cut shares of Medifast from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $74.33.

Medifast Inc (NYSE:MED) opened at $69.81 on Tuesday. Medifast Inc has a one year low of $40.00 and a one year high of $74.78. The stock has a market cap of $833.09, a price-to-earnings ratio of 34.39, a PEG ratio of 2.14 and a beta of 0.50.

Medifast (NYSE:MED) last announced its quarterly earnings data on Tuesday, November 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Medifast had a net margin of 8.58% and a return on equity of 24.07%. The company had revenue of $77.20 million during the quarter, compared to analysts’ expectations of $74.94 million. During the same quarter in the prior year, the company posted $0.51 EPS. The business’s revenue was up 12.5% on a year-over-year basis. equities research analysts forecast that Medifast Inc will post 2.17 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Friday, December 22nd will be paid a $0.48 dividend. This is a boost from Medifast’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, December 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.75%. Medifast’s dividend payout ratio is currently 94.58%.

In related news, Director Glenn W. Welling sold 275,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $64.60, for a total transaction of $17,765,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glenn W. Welling sold 250,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $65.00, for a total transaction of $16,250,000.00. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

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Medifast 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.

Institutional Ownership by Quarter for Medifast (NYSE:MED)

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