New York State Common Retirement Fund Sells 2,061 Shares of Medifast Inc (MED)

New York State Common Retirement Fund decreased its stake in Medifast Inc (NYSE:MED) by 15.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,700 shares of the specialty retailer’s stock after selling 2,061 shares during the period. New York State Common Retirement Fund owned 0.10% of Medifast worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in shares of Medifast in the second quarter valued at about $108,000. Sei Investments Co. increased its stake in shares of Medifast by 95.9% in the second quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 1,920 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Medifast by 86.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock valued at $174,000 after buying an additional 1,939 shares during the period. AHL Partners LLP acquired a new stake in shares of Medifast in the second quarter valued at about $241,000. Finally, Thrivent Financial For Lutherans increased its stake in shares of Medifast by 9.4% in the second quarter. Thrivent Financial For Lutherans now owns 6,760 shares of the specialty retailer’s stock valued at $280,000 after buying an additional 580 shares during the period. 86.91% of the stock is owned by institutional investors.

Shares of Medifast Inc (NYSE:MED) opened at $70.09 on Friday. Medifast Inc has a one year low of $40.00 and a one year high of $74.78. The company has a market capitalization of $842.16, a P/E ratio of 34.36, a P/E/G ratio of 1.82 and a beta of 0.50.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Friday, December 22nd will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, December 21st. This represents a $1.92 annualized dividend and a yield of 2.74%. This is a boost from Medifast’s previous quarterly dividend of $0.32. Medifast’s dividend payout ratio (DPR) is currently 94.12%.

In related news, Director Glenn W. Welling sold 275,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $64.60, for a total transaction of $17,765,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glenn W. Welling sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was 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. Company insiders own 6.47% of the company’s stock.

Several brokerages have recently weighed in on MED. Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Friday. ValuEngine cut Medifast from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. DA Davidson raised their target price on Medifast from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Finally, Sidoti reaffirmed a “neutral” rating and set a $55.00 target price (up previously from $49.00) on shares of Medifast in a research note on Thursday, September 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.33.

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About Medifast

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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