The Middleby Co. (NASDAQ:MIDD) Director Sells $19,257.00 in Stock

The Middleby Co. (NASDAQ:MIDD) Director Chapin Sarah Palisi sold 150 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $128.38, for a total transaction of $19,257.00. Following the completion of the sale, the director now owns 7,061 shares in the company, valued at $906,491.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Chapin Sarah Palisi also recently made the following trade(s):

• On Wednesday, May 15th, Chapin Sarah Palisi sold 235 shares of Middleby stock. The shares were sold at an average price of $137.18, for a total transaction of $32,237.30.

Middleby Trading Down 2.1 %

NASDAQ:MIDD opened at $123.78 on Monday. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01. The firm has a market cap of $6.66 billion, a PE ratio of 17.24 and a beta of 1.60. The company has a current ratio of 2.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average price of $135.48 and a 200 day moving average price of $142.24.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.16). Middleby had a net margin of 9.82% and a return on equity of 15.88%. The company had revenue of $926.90 million during the quarter, compared to analysts’ expectations of $979.05 million. During the same quarter in the previous year, the business posted $2.19 EPS. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. Sell-side analysts anticipate that The Middleby Co. will post 9.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Middleby

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Middleby in the 1st quarter valued at about $25,000. Allspring Global Investments Holdings LLC boosted its holdings in Middleby by 1,246.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 162 shares in the last quarter. Signaturefd LLC increased its stake in Middleby by 230.1% in the fourth quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 168 shares during the last quarter. Clear Street Markets LLC acquired a new stake in Middleby during the third quarter worth approximately $50,000. Finally, Crewe Advisors LLC raised its holdings in Middleby by 620.0% during the first quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

About Middleby

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.