Bayforest Capital Ltd Buys 1,221 Shares of The Middleby Corporation (NASDAQ:MIDD)

Bayforest Capital Ltd increased its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 183.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,888 shares of the industrial products company’s stock after purchasing an additional 1,221 shares during the quarter. Bayforest Capital Ltd’s holdings in Middleby were worth $287,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. TCTC Holdings LLC raised its holdings in shares of Middleby by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock worth $26,000 after buying an additional 91 shares in the last quarter. Versant Capital Management Inc grew its position in Middleby by 760.0% in the first 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 during the fourth quarter worth about $71,000. Coppell Advisory Solutions LLC raised its stake in Middleby by 220.6% during the fourth quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 417 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings 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 worth $97,000 after acquiring an additional 240 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on MIDD shares. Barclays lowered their price target on shares of Middleby from $180.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, July 21st. Robert W. Baird reduced their price objective on Middleby from $188.00 to $162.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. KeyCorp dropped their target price on Middleby from $185.00 to $175.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wall Street Zen lowered Middleby from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Canaccord Genuity Group lowered their price objective on Middleby from $200.00 to $186.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.00.

Insider Transactions at Middleby

In other Middleby news, Director Edward P. Garden acquired 137,000 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were acquired at an average cost of $148.03 per share, with a total value of $20,280,110.00. Following the completion of the acquisition, the director directly owned 3,276,834 shares in the company, valued at $485,069,737.02. This trade represents a 4.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 640,968 shares of company stock valued at $93,495,270 over the last three months. Company insiders own 6.18% of the company’s stock.

Middleby Stock Performance

Shares of MIDD stock opened at $145.20 on Friday. The firm has a 50 day moving average of $146.28 and a 200-day moving average of $148.89. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 18.15 and a beta of 1.57. The company has a quick ratio of 1.73, a current ratio of 2.72 and a debt-to-equity ratio of 0.63. The Middleby Corporation has a 52 week low of $121.70 and a 52 week high of $182.73.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.94 by $0.14. Middleby had a return on equity of 14.47% and a net margin of 11.26%. The firm had revenue of $906.63 million during the quarter, compared to the consensus estimate of $941.46 million. During the same quarter in the previous year, the company posted $1.89 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. On average, equities analysts forecast that The Middleby Corporation will post 9.11 earnings per share for the current year.

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.