Medifast Inc (NYSE:MED) declared a — dividend on Friday, September 13th, Wall Street Journal reports. Investors of record on Friday, September 27th will be paid a dividend of 0.75 per share by the specialty retailer on Thursday, November 7th. This represents a yield of 2.8%. The ex-dividend date is Thursday, September 26th.
Medifast has a payout ratio of 66.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Medifast to earn $8.59 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 34.9%.
NYSE MED traded up $1.03 during trading on Friday, reaching $106.05. 565,925 shares of the stock traded hands, compared to its average volume of 276,788. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 22.95 and a beta of 0.70. The stock’s 50-day moving average price is $104.27 and its 200 day moving average price is $126.10. Medifast has a fifty-two week low of $96.40 and a fifty-two week high of $253.90.
A number of research analysts recently issued reports on MED shares. Jefferies Financial Group started coverage on shares of Medifast in a report on Thursday, July 25th. They set a “buy” rating and a $130.00 price objective for the company. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a report on Tuesday, August 6th. Finally, ValuEngine cut shares of Medifast from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th.
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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