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

Chickasaw Capital Management LLC cut its stake in shares of Medifast, Inc. (NYSE:MED) by 8.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,620 shares of the specialty retailer’s stock after selling 1,578 shares during the quarter. Chickasaw Capital Management LLC’s holdings in Medifast were worth $293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP grew its position in shares of Medifast by 592.7% in the 2nd quarter. Quarry LP now owns 2,667 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 2,282 shares during the period. CWM LLC grew its holdings in Medifast by 70.9% during the third quarter. CWM LLC now owns 8,006 shares of the specialty retailer’s stock worth $153,000 after purchasing an additional 3,322 shares during the period. Public Employees Retirement System of Ohio increased its position in Medifast by 1,161.8% during the third quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer’s stock worth $187,000 after buying an additional 8,992 shares during the last quarter. SG Americas Securities LLC bought a new stake in Medifast in the third quarter valued at approximately $206,000. Finally, BOKF NA acquired a new stake in shares of Medifast in the second quarter valued at approximately $267,000. 95.51% of the stock is owned by institutional investors.

Medifast Stock Performance

Medifast stock traded down $0.06 during trading hours on Tuesday, hitting $16.52. The company had a trading volume of 195,310 shares, compared to its average volume of 204,130. Medifast, Inc. has a one year low of $16.45 and a one year high of $67.50. The firm has a market cap of $180.70 million, a PE ratio of 25.03 and a beta of 1.15. The firm has a 50-day moving average of $18.67 and a 200 day moving average of $18.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 2.55.

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

Wall Street Analysts Forecast Growth

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

Medifast Company 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.