The Middleby Co. (NASDAQ:MIDD) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lifted its stake in The Middleby Co. (NASDAQ:MIDD) by 56.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,955 shares of the industrial products company’s stock after purchasing an additional 1,069 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Middleby were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MIDD. Quantinno Capital Management LP boosted its position in Middleby by 1.3% during the 1st quarter. Quantinno Capital Management LP now owns 5,661 shares of the industrial products company’s stock worth $830,000 after acquiring an additional 74 shares during the period. Global Retirement Partners LLC boosted its position in Middleby by 44.2% during the 2nd quarter. Global Retirement Partners LLC now owns 248 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 76 shares during the period. Townsquare Capital LLC boosted its position in Middleby by 1.4% during the 4th quarter. Townsquare Capital LLC now owns 5,940 shares of the industrial products company’s stock worth $795,000 after acquiring an additional 83 shares during the period. First Horizon Advisors Inc. boosted its position in Middleby by 29.0% during the 1st quarter. First Horizon Advisors Inc. now owns 414 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 93 shares during the period. Finally, Cardinal Capital Management boosted its position in Middleby by 1.8% during the 2nd quarter. Cardinal Capital Management now owns 5,405 shares of the industrial products company’s stock worth $799,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 96.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MIDD. Barclays lowered their price target on Middleby from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, October 18th. KeyCorp lowered their price target on Middleby from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Benchmark lowered their price target on Middleby from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Citigroup lowered their price target on Middleby from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $173.00 target price on shares of Middleby in a report on Wednesday, September 6th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.00.

Insider Buying and Selling at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 450 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $142.00, for a total value of $63,900.00. Following the sale, the director now directly owns 6,806 shares in the company, valued at $966,452. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Chapin Sarah Palisi sold 450 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $142.00, for a total transaction of $63,900.00. Following the sale, the director now owns 6,806 shares in the company, valued at $966,452. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert A. Nerbonne bought 720 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $139.32 per share, for a total transaction of $100,310.40. Following the acquisition, the director now directly owns 17,996 shares of the company’s stock, valued at approximately $2,507,202.72. The disclosure for this purchase can be found here. Insiders have sold 4,950 shares of company stock worth $732,650 over the last three months. Company insiders own 1.16% of the company’s stock.

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $111.05 on Thursday. The business has a fifty day simple moving average of $129.40 and a 200 day simple moving average of $138.23. The Middleby Co. has a one year low of $109.59 and a one year high of $162.02. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 13.30 and a beta of 1.55. The company has a current ratio of 2.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.90.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.15. Middleby had a return on equity of 18.15% and a net margin of 11.14%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business posted $2.23 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that The Middleby Co. will post 9.59 EPS for the current year.

About Middleby

The Middleby Corporation designs, manufactures, markets, 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, and IoT solutions.