National Bank of Canada FI lifted its stake in shares of Medifast, Inc. (NYSE:MED – Get Rating) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,800 shares of the specialty retailer's stock after purchasing an additional 496 shares during the quarter. National Bank of Canada FI owned about 0.06% of Medifast worth $1,161,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. Rice Hall James & Associates LLC raised its position in Medifast by 4.0% in the fourth quarter. Rice Hall James & Associates LLC now owns 326,732 shares of the specialty retailer's stock worth $68,427,000 after acquiring an additional 12,687 shares in the last quarter. Geode Capital Management LLC raised its position in Medifast by 12.2% in the fourth quarter. Geode Capital Management LLC now owns 229,196 shares of the specialty retailer's stock worth $48,000,000 after acquiring an additional 24,903 shares in the last quarter. Pictet Asset Management SA raised its position in Medifast by 41.8% in the fourth quarter. Pictet Asset Management SA now owns 205,685 shares of the specialty retailer's stock worth $43,077,000 after acquiring an additional 60,665 shares in the last quarter. Lombard Odier Asset Management Switzerland SA raised its position in Medifast by 45.8% in the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 175,000 shares of the specialty retailer's stock worth $36,650,000 after acquiring an additional 55,000 shares in the last quarter. Finally, Cooper Creek Partners Management LLC grew its holdings in Medifast by 65.5% in the fourth quarter. Cooper Creek Partners Management LLC now owns 93,316 shares of the specialty retailer's stock valued at $19,543,000 after purchasing an additional 36,942 shares during the last quarter. Hedge funds and other institutional investors own 84.78% of the company's stock.
Get Medifast alerts:Medifast Stock Down 6.3 %
Medifast stock opened at $138.78 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.75 and a current ratio of 1.29. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 10.30 and a beta of 1.08. Medifast, Inc. has a fifty-two week low of $136.54 and a fifty-two week high of $263.13. The stock's fifty day moving average is $177.21 and its two-hundred day moving average is $179.45.
Medifast Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Tuesday, June 28th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Monday, June 27th. Medifast's payout ratio is currently 48.66%.Wall Street Analysts Forecast Growth
Several analysts have weighed in on MED shares. Jefferies Financial Group lowered Medifast from a "buy" rating to a "hold" rating and lowered their target price for the company from $345.00 to $150.00 in a report on Thursday. DA Davidson lowered their target price on Medifast from $352.00 to $278.00 and set a "buy" rating on the stock in a report on Thursday. Finally, StockNews.com lowered Medifast from a "buy" rating to a "hold" rating in a report on Sunday.
Medifast Profile
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Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. The company offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serves, shakes, smoothies, soft bakes, and soups under the OPTAVIA, Optimal Health by Take Shape for Life, and Flavors of Home brands.
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