Chickasaw Capital Management LLC Has $293,000 Position in Medifast, Inc. (NYSE:MED)

Chickasaw Capital Management LLC cut its position in shares of Medifast, Inc. (NYSE:MED) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,620 shares of the specialty retailer’s stock after selling 1,578 shares during the quarter. Chickasaw Capital Management LLC owned 0.15% of Medifast worth $293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in shares of Medifast during the second quarter valued at approximately $785,000. Acadian Asset Management LLC boosted its holdings in Medifast by 2,000.1% during the second quarter. Acadian Asset Management LLC now owns 338,228 shares of the specialty retailer’s stock valued at $7,376,000 after purchasing an additional 322,123 shares in the last quarter. American Century Companies Inc. grew its position in Medifast by 17.4% in the second quarter. American Century Companies Inc. now owns 198,738 shares of the specialty retailer’s stock valued at $4,336,000 after acquiring an additional 29,476 shares during the period. BOKF NA acquired a new stake in shares of Medifast during the 2nd quarter worth about $267,000. Finally, Federated Hermes Inc. raised its stake in shares of Medifast by 415.1% in the second quarter. Federated Hermes Inc. now owns 215,090 shares of the specialty retailer’s stock valued at $4,693,000 after acquiring an additional 173,337 shares during the last quarter. 95.51% of the stock is currently owned by institutional investors.

Medifast Trading Down 0.4 %

MED stock traded down $0.06 during midday trading on Tuesday, reaching $16.52. The company’s stock had a trading volume of 195,310 shares, compared to its average volume of 204,130. The business’s 50-day simple moving average is $18.67 and its 200-day simple moving average is $18.92. The stock has a market cap of $180.70 million, a PE ratio of 25.03 and a beta of 1.15. Medifast, Inc. has a 52 week low of $16.45 and a 52 week high of $67.50. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.06.

Medifast (NYSE:MED) last announced its quarterly earnings results on Monday, November 4th. The specialty retailer reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.50. Medifast had a net margin of 1.09% and a return on equity of 15.98%. The business had revenue of $140.16 million for the quarter, compared to the consensus estimate of $135.45 million. During the same period last year, the company posted $2.12 EPS. As a group, sell-side analysts expect that Medifast, Inc. will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, DA Davidson upgraded shares of Medifast from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $16.50 to $17.00 in a research report on Tuesday, November 5th.

Medifast Profile

Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.