Medifast, Inc. (NYSE:MED) Stake Lifted by Brookstone Capital Management

Brookstone Capital Management increased its stake in shares of Medifast, Inc. (NYSE:MEDGet Rating) by 224.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,010 shares of the specialty retailer’s stock after buying an additional 2,775 shares during the quarter. Brookstone Capital Management’s holdings in Medifast were worth $707,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MED. Teacher Retirement System of Texas grew its stake in Medifast by 19.5% during the 4th quarter. Teacher Retirement System of Texas now owns 2,150 shares of the specialty retailer’s stock worth $450,000 after buying an additional 351 shares during the last quarter. Citigroup Inc. grew its stake in shares of Medifast by 22.9% in the fourth quarter. Citigroup Inc. now owns 11,324 shares of the specialty retailer’s stock worth $2,372,000 after purchasing an additional 2,109 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Medifast by 12.3% in the fourth quarter. JPMorgan Chase & Co. now owns 48,627 shares of the specialty retailer’s stock worth $10,183,000 after purchasing an additional 5,325 shares in the last quarter. PEAK6 Investments LLC grew its stake in shares of Medifast by 111.9% in the fourth quarter. PEAK6 Investments LLC now owns 959 shares of the specialty retailer’s stock worth $201,000 after purchasing an additional 9,015 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of 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 purchasing an additional 24,903 shares in the last quarter. 87.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MED shares. StockNews.com upgraded shares of Medifast from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. TheStreet lowered Medifast from a “b” rating to a “c+” rating in a 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 report on Thursday, August 4th. Finally, DA Davidson reduced their price objective on shares of Medifast from $352.00 to $278.00 and set a “buy” rating for the company in a research report on Thursday, August 4th.

Insiders Place Their Bets

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

Medifast Price Performance

Shares of NYSE:MED opened at $114.41 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.46 and a current ratio of 1.29. The company has a market capitalization of $1.26 billion, a PE ratio of 8.49 and a beta of 1.18. The stock has a fifty day moving average of $140.37 and a 200-day moving average of $165.16. Medifast, Inc. has a one year low of $112.26 and a one year high of $235.71.

Medifast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 8th. Investors of record on Tuesday, September 20th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Monday, September 19th. This represents a $6.56 dividend on an annualized basis and a yield of 5.73%. Medifast’s dividend payout ratio is currently 48.66%.

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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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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