Axa S.A. Trims Stock Position in Medifast, Inc. (NYSE:MED)

Posted by Defense World Staff on Mar 1st, 2023

Axa S.A. lessened its stake in Medifast, Inc. (NYSE:MED – Get Rating) by 17.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,775 shares of the specialty retailer’s stock after selling 1,700 shares during the period. Axa S.A. owned approximately 0.07% of Medifast worth $842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MED. Aviva PLC lifted its holdings in shares of Medifast by 12.5% in the 3rd quarter. Aviva PLC now owns 12,858 shares of the specialty retailer’s stock worth $1,393,000 after acquiring an additional 1,430 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Medifast during the 3rd quarter valued at $566,000. WINTON GROUP Ltd increased its position in Medifast by 61.7% during the 3rd quarter. WINTON GROUP Ltd now owns 10,946 shares of the specialty retailer’s stock valued at $1,186,000 after purchasing an additional 4,178 shares during the period. Pacific Ridge Capital Partners LLC increased its position in Medifast by 21.2% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 11,090 shares of the specialty retailer’s stock valued at $1,202,000 after purchasing an additional 1,940 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Medifast by 76.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 869 shares of the specialty retailer’s stock valued at $94,000 after purchasing an additional 377 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling at Medifast

In related news, Director Jeffrey J. Brown bought 571 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were bought at an average price of $116.11 per share, for a total transaction 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 $4,297,695.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by insiders.

Analyst Ratings Changes

MED has been the topic of a number of recent research reports. DA Davidson reduced their target price on shares of Medifast from $106.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 22nd. StockNews.com cut shares of Medifast from a “buy” rating to a “hold” rating in a research note on Wednesday, February 22nd.

Medifast Stock Performance

MED stock opened at $112.13 on Wednesday. The firm has a fifty day moving average price of $115.23 and a 200 day moving average price of $117.87. Medifast, Inc. has a fifty-two week low of $96.00 and a fifty-two week high of $197.19. The firm has a market cap of $1.22 billion, a PE ratio of 8.84 and a beta of 1.17.

Medifast Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 7th. Investors of record on Tuesday, December 20th were issued a $1.64 dividend. The ex-dividend date of this dividend was Monday, December 19th. This represents a $6.56 annualized dividend and a dividend yield of 5.85%. Medifast’s payout ratio is currently 51.69%.

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.