Medifast Inc (NYSE:MED) declared a quarterly dividend on Tuesday, June 16th, Zacks reports. Investors of record on Tuesday, June 30th will be paid a dividend of 1.13 per share by the specialty retailer on Thursday, August 6th. This represents a $4.52 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Monday, June 29th.
Medifast has a dividend payout ratio of 65.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Medifast to earn $7.89 per share next year, which means the company should continue to be able to cover its $4.52 annual dividend with an expected future payout ratio of 57.3%.
Shares of MED opened at $131.61 on Friday. The stock has a 50 day simple moving average of $103.23 and a 200 day simple moving average of $91.56. Medifast has a 52-week low of $49.03 and a 52-week high of $133.18. The firm has a market capitalization of $1.55 billion, a PE ratio of 20.92 and a beta of 1.24.
Several equities analysts recently issued reports on MED shares. DA Davidson boosted their price objective on Medifast from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Zacks Investment Research upgraded Medifast from a “hold” rating to a “strong-buy” rating and set a $110.00 target price on the stock in a research note on Tuesday, May 12th. Finally, B. Riley initiated coverage on Medifast in a research note on Thursday. They issued a “buy” rating and a $164.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Medifast has an average rating of “Hold” and a consensus target price of $112.50.
In other news, Director Scott Schlackman sold 3,119 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $107.55, for a total transaction of $335,448.45. Following the sale, the director now owns 7,555 shares in the company, valued at approximately $812,540.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael C. Macdonald sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $90.74, for a total value of $453,700.00. Following the sale, the director now owns 284,456 shares in the company, valued at approximately $25,811,537.44. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.
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