Insider Selling: The Middleby Co. (NASDAQ:MIDD) Director Sells 225 Shares of Stock

The Middleby Co. (NASDAQ:MIDDGet Rating) Director Chapin Sarah Palisi sold 225 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $148.00, for a total value of $33,300.00. Following the completion of the transaction, the director now directly owns 7,235 shares in the company, valued at $1,070,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chapin Sarah Palisi also recently made the following trade(s):

  • On Wednesday, August 10th, Chapin Sarah Palisi sold 250 shares of Middleby stock. The stock was sold at an average price of $148.53, for a total transaction of $37,132.50.

Middleby Price Performance

Shares of Middleby stock opened at $152.79 on Tuesday. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 18.02 and a beta of 1.56. The company has a quick ratio of 0.95, a current ratio of 1.98 and a debt-to-equity ratio of 1.09. The stock’s 50-day simple moving average is $142.68 and its 200-day simple moving average is $147.96. The Middleby Co. has a 52 week low of $120.30 and a 52 week high of $201.34.

Middleby (NASDAQ:MIDDGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The industrial products company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.07. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $995.84 million. Middleby had a return on equity of 19.11% and a net margin of 12.94%. The firm’s revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.11 EPS. As a group, analysts expect that The Middleby Co. will post 9.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MIDD shares. Benchmark assumed coverage on shares of Middleby in a research report on Thursday, August 25th. They issued a “buy” rating and a $190.00 price target on the stock. Citigroup lowered their target price on Middleby from $180.00 to $160.00 in a research report on Thursday, July 7th. JPMorgan Chase & Co. reduced their price target on Middleby from $160.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. Finally, KeyCorp lowered their price objective on Middleby from $182.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Middleby has an average rating of “Moderate Buy” and an average price target of $179.67.

Hedge Funds Weigh In On Middleby

Several institutional investors have recently bought and sold shares of MIDD. Steward Partners Investment Advisory LLC grew its position in shares of Middleby by 55.8% during the second quarter. Steward Partners Investment Advisory LLC now owns 254 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 91 shares in the last quarter. Parallel Advisors LLC boosted its stake in Middleby by 52.4% during the second quarter. Parallel Advisors LLC now owns 291 shares of the industrial products company’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Elequin Capital LP purchased a new position in Middleby during the 1st quarter valued at approximately $41,000. Ellevest Inc. increased its stake in Middleby by 689.1% in the 2nd quarter. Ellevest Inc. now owns 434 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 379 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Middleby by 143.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 448 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 264 shares in the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Company Profile

(Get Rating)

The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, 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; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.

See Also

Insider Buying and Selling by Quarter for Middleby (NASDAQ:MIDD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.