Chicago Equity Partners LLC reduced its holdings in shares of NutriSystem Inc. (NASDAQ:NTRI) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,070 shares of the company’s stock after selling 1,585 shares during the quarter. Chicago Equity Partners LLC owned 0.26% of NutriSystem worth $2,855,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in NTRI. Frontier Capital Management Co. LLC bought a new stake in shares of NutriSystem during the 2nd quarter worth $16,413,000. Royce & Associates LP raised its position in NutriSystem by 112,682.8% in the second quarter. Royce & Associates LP now owns 366,544 shares of the company’s stock valued at $14,112,000 after purchasing an additional 366,219 shares during the last quarter. BlackRock Inc. raised its position in NutriSystem by 6.7% in the second quarter. BlackRock Inc. now owns 4,346,504 shares of the company’s stock valued at $167,340,000 after purchasing an additional 274,721 shares during the last quarter. Point72 Asset Management L.P. bought a new position in NutriSystem in the second quarter valued at about $3,238,000. Finally, Chilton Investment Co. LLC bought a new position in NutriSystem in the second quarter valued at about $3,026,000.
NutriSystem stock opened at $37.07 on Friday. NutriSystem Inc. has a 12 month low of $26.06 and a 12 month high of $55.10. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.39 and a beta of 1.04.
NutriSystem declared that its Board of Directors has initiated a share buyback program on Tuesday, October 30th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Friday, November 9th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.70%. NutriSystem’s dividend payout ratio (DPR) is 51.02%.
Several equities analysts have commented on the company. Zacks Investment Research upgraded NutriSystem from a “sell” rating to a “hold” rating in a research report on Tuesday. Barrington Research upgraded NutriSystem from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Thursday, November 1st. DA Davidson upgraded NutriSystem from an “underperform” rating to a “neutral” rating and increased their target price for the company from $28.00 to $36.00 in a research report on Thursday, November 1st. ValuEngine upgraded NutriSystem from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, BidaskClub upgraded NutriSystem from a “sell” rating to a “hold” rating in a research report on Saturday, October 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $45.57.
Nutrisystem, Inc, together with its subsidiaries, provides weight management products and services for women and men in the United States. The company offers weight loss programs that consist primarily of a pre-packaged food program, digital tools, and counseling. It also provides Nutrisystem Lean13 program, which provides weight loss, and support and counseling services; the South Beach Diet, a weight-loss program; and Nutrisystem 5-day kit, a D' kit that offers individuals with or at risk of type 2 diabetes.
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