John R. Miller III Sells 2,000 Shares of The Middleby Co. (NASDAQ:MIDD) Stock

The Middleby Co. (NASDAQ:MIDDGet Free Report) Director John R. Miller III sold 2,000 shares of Middleby stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $126.32, for a total value of $252,640.00. Following the completion of the transaction, the director now owns 10,931 shares in the company, valued at approximately $1,380,803.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Middleby Price Performance

Middleby stock opened at $125.89 on Friday. The stock’s 50 day moving average is $139.00 and its 200 day moving average is $142.05. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.40 and a quick ratio of 1.28. The firm has a market cap of $6.77 billion, a P/E ratio of 17.53 and a beta of 1.60. The Middleby Co. has a one year low of $109.59 and a one year high of $161.01.

Middleby (NASDAQ:MIDDGet Free Report) last issued its earnings results on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.16). The business had revenue of $926.90 million during the quarter, compared to the consensus estimate of $979.05 million. Middleby had a return on equity of 15.88% and a net margin of 9.82%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.19 earnings per share. As a group, research analysts expect that The Middleby Co. will post 9.8 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Canaccord Genuity Group cut their price target on Middleby from $166.00 to $159.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. lowered Middleby from a “neutral” rating to an “underweight” rating and cut their price target for the company from $145.00 to $118.00 in a research note on Wednesday, May 22nd. Finally, William Blair raised Middleby to a “hold” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Middleby currently has an average rating of “Moderate Buy” and a consensus target price of $153.43.

Check Out Our Latest Research Report on MIDD

Institutional Investors Weigh In On Middleby

A number of hedge funds have recently added to or reduced their stakes in MIDD. Amalgamated Bank increased its holdings in Middleby by 1.8% in the third quarter. Amalgamated Bank now owns 35,473 shares of the industrial products company’s stock worth $4,541,000 after purchasing an additional 615 shares in the last quarter. Swiss National Bank increased its holdings in shares of Middleby by 5.9% during the third quarter. Swiss National Bank now owns 117,600 shares of the industrial products company’s stock valued at $15,053,000 after acquiring an additional 6,600 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Middleby by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 322,418 shares of the industrial products company’s stock valued at $41,270,000 after acquiring an additional 4,363 shares in the last quarter. Pathstone Family Office LLC increased its holdings in shares of Middleby by 30.7% during the third quarter. Pathstone Family Office LLC now owns 11,823 shares of the industrial products company’s stock valued at $1,513,000 after acquiring an additional 2,775 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Middleby by 2.8% during the third quarter. HighTower Advisors LLC now owns 242,397 shares of the industrial products company’s stock valued at $31,041,000 after acquiring an additional 6,548 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors.

About Middleby

(Get Free Report)

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.

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

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