Systematic Financial Management LP lowered its stake in shares of Medifast Inc (NYSE:MED) by 18.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,233 shares of the specialty retailer’s stock after selling 5,155 shares during the period. Systematic Financial Management LP’s holdings in Medifast were worth $1,552,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. purchased a new stake in shares of Medifast during the fourth quarter worth about $101,000. LS Investment Advisors LLC increased its stake in shares of Medifast by 341.5% during the fourth quarter. LS Investment Advisors LLC now owns 1,691 shares of the specialty retailer’s stock worth $118,000 after purchasing an additional 1,308 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Medifast by 248.2% during the third quarter. Public Employees Retirement System of Ohio now owns 2,354 shares of the specialty retailer’s stock worth $140,000 after purchasing an additional 1,678 shares in the last quarter. Cigna Investments Inc. New purchased a new stake in shares of Medifast during the fourth quarter worth about $207,000. Finally, Burns J W & Co. Inc. NY purchased a new stake in shares of Medifast during the fourth quarter worth about $227,000. 91.75% of the stock is owned by institutional investors and hedge funds.
In related news, Director Glenn W. Welling sold 275,000 shares of the company’s 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 this link. 5.40% of the stock is currently owned by corporate insiders.
Shares of Medifast Inc (MED) opened at $67.13 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 $793.35, a PE ratio of 33.07, a P/E/G ratio of 1.70 and a beta of 0.54.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 8th. Investors of record on Friday, December 22nd were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Thursday, December 21st. This is a boost from Medifast’s previous quarterly dividend of $0.32. Medifast’s dividend payout ratio is currently 94.58%.
COPYRIGHT VIOLATION NOTICE: “Systematic Financial Management LP Cuts Stake in Medifast Inc (MED)” was first reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.tickerreport.com/banking-finance/3225583/systematic-financial-management-lp-cuts-stake-in-medifast-inc-med.html.
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.
Want to see what other hedge funds are holding MED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medifast Inc (NYSE:MED).
Receive News & Ratings for Medifast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medifast and related companies with MarketBeat.com's FREE daily email newsletter.