Medifast, Inc. (MED) To Go Ex-Dividend on September 19th

Medifast, Inc. (NYSE:MEDGet Rating) declared a quarterly dividend on Friday, September 9th, Wall Street Journal reports. Investors of record on Tuesday, September 20th will be given a dividend of 1.64 per share by the specialty retailer on Tuesday, November 8th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Monday, September 19th.

Medifast has raised its dividend payment by an average of 37.4% annually over the last three years and has increased its dividend every year for the last 2 years. Medifast has a payout ratio of 49.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Medifast to earn $13.36 per share next year, which means the company should continue to be able to cover its $6.56 annual dividend with an expected future payout ratio of 49.1%.

Medifast Trading Up 5.1 %

NYSE:MED opened at $125.81 on Friday. Medifast has a 12 month low of $116.50 and a 12 month high of $236.71. The company has a current ratio of 1.29, a quick ratio of 0.46 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 9.33 and a beta of 1.18. The firm has a fifty day simple moving average of $151.11 and a two-hundred day simple moving average of $169.12.

Wall Street Analysts Forecast Growth

MED has been the subject of a number of research analyst reports. TheStreet lowered Medifast from a “b” rating to a “c+” rating in a research report on Tuesday, August 23rd. Jefferies Financial Group lowered Medifast from a “buy” rating to a “hold” rating and lowered their target price for the stock from $345.00 to $150.00 in a research report on Thursday, August 4th. StockNews.com raised shares of Medifast from a “hold” rating to a “buy” rating in a research report on Thursday, September 1st. Finally, DA Davidson decreased their price target on shares of Medifast from $352.00 to $278.00 and set a “buy” rating for the company in a research note on Thursday, August 4th.

Insider Buying and Selling at Medifast

In related news, Director Jeffrey J. Brown purchased 3,940 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average price of $126.54 per share, for a total transaction of $498,567.60. Following the completion of the acquisition, the director now owns 3,940 shares of the company’s stock, valued at approximately $498,567.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeffrey J. Brown acquired 3,940 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was purchased at an average price of $126.54 per share, for a total transaction of $498,567.60. Following the purchase, the director now owns 3,940 shares in the company, valued at approximately $498,567.60. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey J. Brown bought 399 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were purchased at an average cost of $146.01 per share, for a total transaction of $58,257.99. Following the transaction, the director now owns 35,938 shares in the company, valued at $5,247,307.38. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Medifast

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Medifast by 6.9% during the first quarter. BlackRock Inc. now owns 2,134,513 shares of the specialty retailer’s stock worth $364,532,000 after purchasing an additional 138,602 shares during the period. Vanguard Group Inc. grew its stake in Medifast by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,521,936 shares of the specialty retailer’s stock valued at $259,916,000 after buying an additional 22,630 shares in the last quarter. State Street Corp raised its holdings in Medifast by 0.9% during the 2nd quarter. State Street Corp now owns 377,972 shares of the specialty retailer’s stock valued at $68,839,000 after acquiring an additional 3,404 shares during the period. First Trust Advisors LP lifted its position in shares of Medifast by 131.4% during the first quarter. First Trust Advisors LP now owns 67,374 shares of the specialty retailer’s stock worth $11,506,000 after acquiring an additional 38,257 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Medifast by 10.7% during the first quarter. Invesco Ltd. now owns 46,602 shares of the specialty retailer’s stock worth $7,959,000 after acquiring an additional 4,492 shares in the last quarter. Institutional investors own 87.66% of the company’s stock.

About Medifast

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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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Dividend History for Medifast (NYSE:MED)

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