The Middleby Co. (NASDAQ:MIDD) Stock Position Lessened by Swiss National Bank

Swiss National Bank reduced its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 10.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 105,600 shares of the industrial products company’s stock after selling 12,000 shares during the period. Swiss National Bank’s holdings in Middleby were worth $15,541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MIDD. Raymond James & Associates bought a new stake in shares of Middleby during the 3rd quarter worth $575,000. Strs Ohio raised its holdings in Middleby by 9.4% during the 3rd quarter. Strs Ohio now owns 12,068 shares of the industrial products company’s stock worth $1,544,000 after buying an additional 1,037 shares during the period. Duality Advisers LP lifted its stake in Middleby by 175.9% during the third quarter. Duality Advisers LP now owns 7,618 shares of the industrial products company’s stock valued at $975,000 after buying an additional 4,857 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Middleby by 3.4% in the third quarter. California Public Employees Retirement System now owns 189,025 shares of the industrial products company’s stock worth $24,195,000 after buying an additional 6,253 shares during the period. Finally, CNB Bank increased its position in shares of Middleby by 19.1% in the third quarter. CNB Bank now owns 2,366 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 380 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of MIDD opened at $136.28 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73. The Middleby Co. has a 12 month low of $109.59 and a 12 month high of $161.01. The company’s fifty day moving average is $148.93 and its 200-day moving average is $140.29. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 18.39 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $1.89 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.16). Middleby had a return on equity of 16.99% and a net margin of 9.93%. The business had revenue of $926.90 million for the quarter, compared to analyst estimates of $979.05 million. During the same period in the previous year, the company earned $2.19 earnings per share. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that The Middleby Co. will post 10.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Cathy L. Mccarthy sold 1,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total transaction of $153,120.00. Following the completion of the sale, the director now directly owns 7,971 shares of the company’s stock, valued at approximately $1,220,519.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Middleby news, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total value of $53,014.50. Following the transaction, the director now directly owns 6,306 shares of the company’s stock, valued at approximately $955,169.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Cathy L. Mccarthy sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total value of $153,120.00. Following the completion of the sale, 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. Insiders own 1.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MIDD. Jefferies Financial Group upped 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. Canaccord Genuity Group decreased their target price on Middleby from $166.00 to $159.00 and set a “buy” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $158.50.

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.