SG Americas Securities LLC grew its holdings in The Middleby Corporation (NASDAQ:MIDD – Free Report) by 209.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,458 shares of the industrial products company’s stock after buying an additional 3,018 shares during the quarter. SG Americas Securities LLC’s holdings in Middleby were worth $678,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MIDD. ProShare Advisors LLC lifted its position in shares of Middleby by 7.4% during the fourth quarter. ProShare Advisors LLC now owns 2,517 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 173 shares in the last quarter. Garden Investment Management L.P. acquired a new position in Middleby during the 4th quarter worth $101,958,000. Vanguard Group Inc. lifted its holdings in Middleby by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,260,935 shares of the industrial products company’s stock worth $712,594,000 after buying an additional 21,771 shares in the last quarter. Sarasin & Partners LLP acquired a new position in Middleby during the 1st quarter worth $2,283,000. Finally, IMC Chicago LLC acquired a new position in Middleby during the 1st quarter worth $4,069,000. 98.55% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on MIDD shares. KeyCorp reduced their price objective on Middleby from $185.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Barclays upped their price objective on Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Robert W. Baird cut their price objective on shares of Middleby from $188.00 to $162.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Wall Street Zen lowered shares of Middleby from a “buy” rating to a “hold” rating in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Middleby currently has an average rating of “Hold” and a consensus price target of $168.14.
Insider Transactions at Middleby
In other news, Director Edward P. Garden bought 621 shares of the business’s stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $149.62 per share, for a total transaction of $92,914.02. Following the purchase, the director now owns 3,139,834 shares of the company’s stock, valued at approximately $469,781,963.08. The trade was a 0.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 640,968 shares of company stock valued at $93,495,270 over the last quarter. Corporate insiders own 6.18% of the company’s stock.
Middleby Trading Down 0.2%
MIDD opened at $141.49 on Friday. The firm’s fifty day moving average is $140.79 and its two-hundred day moving average is $146.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.73 and a current ratio of 2.72. The firm has a market cap of $7.59 billion, a PE ratio of 17.69 and a beta of 1.61. The Middleby Corporation has a twelve month low of $118.41 and a twelve month high of $182.73.
Middleby (NASDAQ:MIDD – Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.14. Middleby had a net margin of 11.26% and a return on equity of 14.47%. The company had revenue of $906.63 million for the quarter, compared to analyst estimates of $941.46 million. During the same period last year, the business posted $1.89 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that The Middleby Corporation will post 9.11 EPS for the current 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.
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