The Middleby Co. (NASDAQ:MIDD) Shares Sold by Greenleaf Trust

Greenleaf Trust lowered its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 8.0% in the fourth quarter, HoldingsChannel reports. The fund owned 1,732 shares of the industrial products company’s stock after selling 150 shares during the quarter. Greenleaf Trust’s holdings in Middleby were worth $255,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Clear Street Markets LLC acquired a new position in Middleby during the third quarter worth approximately $50,000. Mendota Financial Group LLC raised its position in shares of Middleby by 13.5% in the 4th quarter. Mendota Financial Group LLC now owns 1,090 shares of the industrial products company’s stock worth $160,000 after buying an additional 130 shares during the period. Naples Global Advisors LLC acquired a new position in Middleby in the fourth quarter valued at $221,000. Mirabella Financial Services LLP acquired a new position in Middleby in the third quarter valued at $240,000. Finally, Caprock Group LLC increased its stake in Middleby by 6.9% during the third quarter. Caprock Group LLC now owns 2,038 shares of the industrial products company’s stock worth $261,000 after acquiring an additional 132 shares during the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Middleby

In related news, Director Chapin Sarah Palisi sold 350 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total value of $53,014.50. Following the completion of the transaction, the director now owns 6,306 shares of the company’s stock, valued at $955,169.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Chapin Sarah Palisi sold 350 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total value of $53,014.50. Following the sale, the director now directly owns 6,306 shares of the company’s stock, valued at $955,169.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cathy L. Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total transaction of $153,120.00. Following the transaction, the director now directly owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The disclosure for this sale can be found here. Corporate insiders own 1.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MIDD. TheStreet raised Middleby from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Jefferies Financial Group lifted their price target on shares of Middleby from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Canaccord Genuity Group increased their price objective on shares of Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $159.38.

Middleby Stock Down 0.5 %

Shares of NASDAQ:MIDD opened at $144.69 on Thursday. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 19.53 and a beta of 1.56. The company has a 50 day moving average of $151.16 and a two-hundred day moving average of $139.06. The Middleby Co. has a 52-week low of $109.59 and a 52-week high of $161.01. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.21. Middleby had a net margin of 9.93% and a return on equity of 16.99%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business earned $2.57 EPS. The business’s revenue was down 2.2% on a year-over-year basis. As a group, analysts forecast that The Middleby Co. will post 10.32 earnings per share for the current fiscal year.

Middleby 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.