Schwab Charles Investment Management Inc. Has $2.69 Million Position in Medifast Inc (MED)

Schwab Charles Investment Management Inc. raised its holdings in shares of Medifast Inc (NYSE:MED) by 5.3% in the third quarter, Holdings Channel reports. The institutional investor owned 45,252 shares of the specialty retailer’s stock after buying an additional 2,262 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Medifast were worth $2,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Medifast by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,352 shares of the specialty retailer’s stock worth $346,000 after buying an additional 123 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Medifast by 9.4% during the second quarter. Thrivent Financial For Lutherans now owns 6,760 shares of the specialty retailer’s stock worth $280,000 after buying an additional 580 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Medifast by 5.1% during the second quarter. New York State Common Retirement Fund now owns 13,761 shares of the specialty retailer’s stock worth $571,000 after buying an additional 667 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Medifast by 3.7% during the second quarter. Teachers Advisors LLC now owns 20,752 shares of the specialty retailer’s stock worth $861,000 after buying an additional 736 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Medifast by 0.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 161,935 shares of the specialty retailer’s stock worth $6,715,000 after buying an additional 1,164 shares during the last quarter. Institutional investors own 86.79% of the company’s stock.

In other news, Director Glenn W. Welling sold 275,000 shares of the business’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 SEC, which can be accessed through this link. Also, Director Glenn W. Welling sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were 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. Insiders own 5.40% of the company’s stock.

A number of brokerages have recently commented on MED. ValuEngine lowered Medifast from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research lowered Medifast from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Sidoti reiterated a “neutral” rating and set a $55.00 price target (up from $49.00) on shares of Medifast in a report on Thursday, September 21st. Finally, DA Davidson upped their price target on Medifast to $89.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $75.00.

Shares of Medifast Inc (NYSE:MED) opened at $72.27 on Wednesday. The stock has a market capitalization of $869.37, a P/E ratio of 35.60, a PEG ratio of 1.87 and a beta of 0.50. Medifast Inc has a 1 year low of $40.00 and a 1 year high of $74.78.

Medifast (NYSE:MED) last released 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. The business had revenue of $77.20 million for the quarter, compared to analysts’ expectations of $74.94 million. Medifast had a return on equity of 24.07% and a net margin of 8.58%. Medifast’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share. equities analysts forecast that Medifast Inc will post 2.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Friday, December 22nd will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, December 21st. This is a boost from Medifast’s previous quarterly dividend of $0.32. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.66%. Medifast’s payout ratio is currently 94.58%.

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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.

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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