The Middleby Corporation (NASDAQ:MIDD) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its holdings in The Middleby Corporation (NASDAQ:MIDD) by 24.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,419 shares of the industrial products company’s stock after selling 774 shares during the period. M&T Bank Corp’s holdings in Middleby were worth $367,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MIDD. Versant Capital Management Inc lifted its holdings in Middleby by 760.0% in the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 228 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Middleby in the fourth quarter worth approximately $71,000. Coppell Advisory Solutions LLC grew its holdings in Middleby by 220.6% during the fourth quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 417 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Middleby by 60.3% in the first quarter. UMB Bank n.a. now owns 638 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 240 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Middleby by 44.9% in the first quarter. GAMMA Investing LLC now owns 901 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Insider Buying and Selling at Middleby

In other Middleby news, Director Edward P. Garden bought 249,339 shares of Middleby stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average price of $149.59 per share, for a total transaction of $37,298,621.01. Following the acquisition, the director owned 3,088,263 shares of the company’s stock, valued at $461,973,262.17. The trade was a 8.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have purchased 640,968 shares of company stock worth $93,495,270. Company insiders own 6.18% of the company’s stock.

Middleby Stock Performance

Shares of MIDD stock opened at $147.37 on Friday. The business has a fifty day moving average of $146.43 and a 200 day moving average of $148.03. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 18.42 and a beta of 1.57. The Middleby Corporation has a 1 year low of $121.70 and a 1 year high of $182.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.72 and a quick ratio of 1.73.

Middleby (NASDAQ:MIDD) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.14. The company had revenue of $906.63 million for the quarter, compared to analyst estimates of $941.46 million. Middleby had a return on equity of 14.47% and a net margin of 11.26%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 earnings per share. As a group, research analysts expect that The Middleby Corporation will post 9.11 earnings per share for the current year.

Analysts Set New Price Targets

MIDD has been the subject of a number of analyst reports. Robert W. Baird cut their price objective on Middleby from $188.00 to $162.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. KeyCorp decreased 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. Canaccord Genuity Group reduced their price objective on Middleby from $200.00 to $186.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded Middleby from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.14.

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.