Medifast Inc (NYSE:MED) declared a quarterly dividend on Thursday, December 7th, Wall Street Journal reports. Stockholders of record on Friday, December 22nd will be paid a dividend of 0.48 per share by the specialty retailer on Thursday, February 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, December 21st. This is a positive change from Medifast’s previous quarterly dividend of $0.32.

Medifast has a dividend payout ratio of 59.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Medifast to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 50.2%.

Shares of Medifast (MED) traded down $1.41 on Thursday, hitting $65.53. 136,000 shares of the stock were exchanged, compared to its average volume of 96,236. Medifast has a twelve month low of $39.21 and a twelve month high of $71.73. The stock has a market capitalization of $822.94, a price-to-earnings ratio of 32.97, a PEG ratio of 2.06 and a beta of 0.51.

Medifast (NYSE:MED) last posted its quarterly earnings data on Tuesday, November 7th. The specialty retailer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Medifast had a net margin of 8.58% and a return on equity of 24.07%. The firm had revenue of $77.20 million for the quarter, compared to analyst estimates of $74.94 million. During the same period last year, the firm posted $0.51 EPS. Medifast’s quarterly revenue was up 12.5% on a year-over-year basis. equities analysts forecast that Medifast will post 2.17 earnings per share for the current year.

Several research firms have recently issued reports on MED. ValuEngine downgraded Medifast from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Medifast from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Friday, November 10th. Sidoti reiterated a “neutral” rating and set a $55.00 target price (up previously from $49.00) on shares of Medifast in a report on Thursday, September 21st. DA Davidson boosted their target price on Medifast from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, September 15th. Finally, BidaskClub upgraded Medifast from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $69.33.

In other Medifast news, Director Glenn W. Welling sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $65.00, for a total value of $16,250,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Glenn W. Welling sold 275,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $64.60, for a total value of $17,765,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 550,000 shares of company stock worth $34,019,500. 6.47% of the stock is currently owned by corporate insiders.

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Medifast Company Profile

Medifast, Inc produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. The Company’s product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins.

Dividend History for Medifast (NYSE:MED)

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