The Middleby Co. (NASDAQ:MIDD) Director Sells $81,755.00 in Stock

The Middleby Co. (NASDAQ:MIDD) Director Chapin Sarah Palisi sold 500 shares of Middleby stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the transaction, the director now owns 6,111 shares of the company’s stock, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Middleby Price Performance

Shares of MIDD stock opened at $161.58 on Tuesday. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $182.73. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 22.29 and a beta of 1.64. The stock has a fifty day simple moving average of $154.12 and a two-hundred day simple moving average of $143.76. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD) last issued its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.38. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. During the same period in the prior year, the business earned $2.65 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts predict that The Middleby Co. will post 9.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on MIDD. Robert W. Baird boosted their price objective on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Canaccord Genuity Group boosted their price objective on Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Barclays boosted their price objective on Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. Finally, KeyCorp boosted their price objective on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Middleby currently has an average rating of “Hold” and an average price target of $180.86.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Lorne Steinberg Wealth Management Inc. lifted its stake in shares of Middleby by 0.3% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company’s stock worth $3,323,000 after purchasing an additional 70 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 78 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Middleby by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company’s stock worth $224,000 after purchasing an additional 81 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Middleby by 1.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company’s stock worth $971,000 after purchasing an additional 81 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in shares of Middleby by 4.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 88 shares during the last quarter. 98.55% of the stock is owned by institutional investors.

Middleby Company Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.