Chicago Equity Partners LLC decreased its position in shares of Medifast Inc (NYSE:MED) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,746 shares of the specialty retailer’s stock after selling 545 shares during the quarter. Chicago Equity Partners LLC owned 0.19% of Medifast worth $2,844,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. LS Investment Advisors LLC increased its position in shares of Medifast by 8.1% during the 4th quarter. LS Investment Advisors LLC now owns 1,502 shares of the specialty retailer’s stock worth $188,000 after purchasing an additional 113 shares during the last quarter. Dupont Capital Management Corp increased its position in shares of Medifast by 23.5% during the 4th quarter. Dupont Capital Management Corp now owns 2,725 shares of the specialty retailer’s stock worth $341,000 after purchasing an additional 519 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Medifast by 15.2% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 6,659 shares of the specialty retailer’s stock worth $833,000 after purchasing an additional 878 shares during the last quarter. Rhumbline Advisers increased its position in shares of Medifast by 21.9% during the 4th quarter. Rhumbline Advisers now owns 34,106 shares of the specialty retailer’s stock worth $4,264,000 after purchasing an additional 6,132 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Medifast by 6.3% during the 4th quarter. Arizona State Retirement System now owns 18,426 shares of the specialty retailer’s stock worth $2,304,000 after purchasing an additional 1,089 shares during the last quarter. 94.11% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on MED. ValuEngine downgraded Medifast from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Sidoti raised Medifast from a “neutral” rating to a “buy” rating in a research report on Thursday, November 8th.
Shares of NYSE:MED opened at $131.54 on Thursday. The stock has a market cap of $1.59 billion, a P/E ratio of 57.44, a price-to-earnings-growth ratio of 1.11 and a beta of 0.62. Medifast Inc has a 12-month low of $61.96 and a 12-month high of $260.98.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 7th. Investors of record on Friday, December 21st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.28%. This is an increase from Medifast’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, December 20th. Medifast’s dividend payout ratio (DPR) is presently 131.00%.
In other Medifast news, Director Constance J. Hallquist sold 1,343 shares of Medifast stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $153.84, for a total value of $206,607.12. Following the completion of the transaction, the director now directly owns 4,687 shares of the company’s stock, valued at approximately $721,048.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.30% of the company’s stock.
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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