Boston Partners Buys 1,396 Shares of Medifast, Inc. (NYSE:MED)

Posted by Defense World Staff on Feb 15th, 2023

Boston Partners raised its stake in Medifast, Inc. (NYSE:MED – Get Rating) by 44.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,548 shares of the specialty retailer’s stock after acquiring an additional 1,396 shares during the period. Boston Partners’ holdings in Medifast were worth $493,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in Medifast by 80.1% in the second quarter. Victory Capital Management Inc. now owns 128,803 shares of the specialty retailer’s stock valued at $23,250,000 after acquiring an additional 57,300 shares during the period. Shell Asset Management Co. grew its holdings in shares of Medifast by 158.2% during the second quarter. Shell Asset Management Co. now owns 1,900 shares of the specialty retailer’s stock worth $343,000 after purchasing an additional 1,164 shares during the last quarter. Texas Permanent School Fund grew its holdings in shares of Medifast by 1.2% during the second quarter. Texas Permanent School Fund now owns 8,334 shares of the specialty retailer’s stock worth $1,504,000 after purchasing an additional 99 shares during the last quarter. KBC Group NV grew its holdings in shares of Medifast by 10.3% during the third quarter. KBC Group NV now owns 5,901 shares of the specialty retailer’s stock worth $639,000 after purchasing an additional 551 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of Medifast by 212.5% during the third quarter. LSV Asset Management now owns 2,500 shares of the specialty retailer’s stock worth $271,000 after purchasing an additional 1,700 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Medifast Stock Up 1.2 %

Shares of MED opened at $111.93 on Wednesday. Medifast, Inc. has a 12-month low of $96.00 and a 12-month high of $197.19. The firm has a market capitalization of $1.22 billion, a PE ratio of 8.49 and a beta of 1.17. The stock’s fifty day simple moving average is $116.56 and its 200-day simple moving average is $120.40.

Medifast Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 7th. Stockholders of record on Tuesday, December 20th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 5.86%. The ex-dividend date was Monday, December 19th. Medifast’s dividend payout ratio (DPR) is presently 49.73%.

Insider Activity

In other news, Director Jeffrey J. Brown purchased 571 shares of the business’s stock in a transaction dated Friday, February 3rd. The shares were acquired at an average price of $116.11 per share, with a total value of $66,298.81. Following the completion of the purchase, the director now directly owns 37,014 shares of the company’s stock, valued at approximately $4,297,695.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MED has been the topic of several research analyst reports. DA Davidson cut Medifast from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $278.00 to $106.00 in a report on Friday, November 4th. StockNews.com upgraded Medifast from a “hold” rating to a “buy” rating in a report on Friday, December 2nd.

About Medifast

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Medifast, Inc engages in the provision of healthy living products and programs. It offers the OPTAVIA brand, a lifestyle solution centered on developing new healthy habits through smaller, foundational changes called micro-habits. The firm’s product line includes bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups.