First Trust Advisors LP acquired a new stake in NutriSystem Inc. (NASDAQ:NTRI) in the third quarter, Holdings Channel reports. The firm acquired 57,172 shares of the company’s stock, valued at approximately $2,118,000.
Other institutional investors have also recently modified their holdings of the company. US Bancorp DE boosted its holdings in NutriSystem by 64.7% in the second quarter. US Bancorp DE now owns 3,726 shares of the company’s stock valued at $143,000 after acquiring an additional 1,464 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in NutriSystem in the second quarter valued at $180,000. Janus Henderson Group PLC acquired a new position in NutriSystem in the second quarter valued at $207,000. Sigma Planning Corp acquired a new position in NutriSystem in the second quarter valued at $215,000. Finally, Teacher Retirement System of Texas acquired a new position in NutriSystem in the second quarter valued at $236,000.
NASDAQ:NTRI opened at $37.19 on Monday. NutriSystem Inc. has a one year low of $26.06 and a one year high of $55.10. The stock has a market capitalization of $1.09 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.
NutriSystem declared that its board has approved a stock buyback program on Tuesday, October 30th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Friday, November 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Thursday, November 8th. NutriSystem’s dividend payout ratio (DPR) is 51.02%.
NTRI has been the topic of a number of research analyst reports. ValuEngine upgraded NutriSystem from a “strong sell” rating to a “sell” rating in a report on Friday, October 12th. Zacks Investment Research upgraded NutriSystem from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. DA Davidson upgraded NutriSystem from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $28.00 to $36.00 in a report on Thursday, November 1st. Barrington Research upgraded NutriSystem from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Thursday, November 1st. Finally, BidaskClub cut NutriSystem from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $45.57.
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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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