Prudential Financial Inc. Reduces Position in NutriSystem Inc (NTRI)
Prudential Financial Inc. decreased its stake in shares of NutriSystem Inc (NASDAQ:NTRI) by 13.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,121,487 shares of the company’s stock after selling 180,980 shares during the quarter. Prudential Financial Inc. owned about 3.73% of NutriSystem worth $62,691,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of NutriSystem by 50.3% during the second quarter. Vanguard Group Inc. now owns 2,458,686 shares of the company’s stock worth $127,974,000 after acquiring an additional 823,221 shares during the last quarter. Marshall Wace North America L.P. bought a new position in NutriSystem during the second quarter valued at $1,823,000. Cubist Systematic Strategies LLC lifted its position in NutriSystem by 130.5% during the second quarter. Cubist Systematic Strategies LLC now owns 17,560 shares of the company’s stock valued at $914,000 after purchasing an additional 9,942 shares during the last quarter. Assetmark Inc. lifted its position in NutriSystem by 13.0% during the second quarter. Assetmark Inc. now owns 125,103 shares of the company’s stock valued at $6,512,000 after purchasing an additional 14,358 shares during the last quarter. Finally, Amalgamated Bank bought a new position in NutriSystem during the first quarter valued at $214,000. Hedge funds and other institutional investors own 92.48% of the company’s stock.
In other NutriSystem news, Director Jay Herratti sold 3,799 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $60.00, for a total value of $227,940.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael P. Monahan sold 11,335 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $55.03, for a total transaction of $623,765.05. Following the completion of the transaction, the chief financial officer now directly owns 55,933 shares in the company, valued at approximately $3,077,992.99. The disclosure for this sale can be found here. Insiders sold 62,255 shares of company stock worth $3,332,250 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.
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Shares of NutriSystem Inc (NASDAQ:NTRI) opened at $47.50 on Friday. NutriSystem Inc has a 12 month low of $31.60 and a 12 month high of $67.95. The firm has a market cap of $1,422.37, a price-to-earnings ratio of 25.87, a PEG ratio of 1.32 and a beta of 1.05.
NutriSystem (NASDAQ:NTRI) last posted its earnings results on Wednesday, October 25th. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.03. NutriSystem had a net margin of 8.27% and a return on equity of 49.69%. The company had revenue of $158.10 million for the quarter, compared to analysts’ expectations of $155.21 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. NutriSystem’s revenue for the quarter was up 26.9% compared to the same quarter last year. analysts anticipate that NutriSystem Inc will post 1.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 6th will be given a $0.175 dividend. The ex-dividend date is Friday, November 3rd. This represents a $0.70 dividend on an annualized basis and a yield of 1.47%. NutriSystem’s payout ratio is currently 38.25%.
NutriSystem announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several equities analysts have commented on the stock. B. Riley reiterated a “buy” rating and set a $74.00 price objective on shares of NutriSystem in a research report on Friday, July 28th. BidaskClub upgraded shares of NutriSystem from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. DA Davidson reiterated a “buy” rating and set a $79.00 price objective (up previously from $64.00) on shares of NutriSystem in a research report on Sunday, July 30th. Zacks Investment Research lowered shares of NutriSystem from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Lake Street Capital set a $73.00 price objective on shares of NutriSystem and gave the company a “buy” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. NutriSystem presently has a consensus rating of “Buy” and a consensus price target of $67.44.
NutriSystem Company Profile
Nutrisystem, Inc is a provider of weight management products and services, including nutritionally balanced weight loss programs, multi-day kits available at retail locations and digital tools to support weight loss. The Company’s program customers purchase monthly food packages containing four-week meal plan consisting supply of breakfasts, lunches, dinners and snacks and flex meal plan recipes, which they supplement with fresh fruits, vegetables and dairy.
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