Insider Selling: The Middleby Co. (NASDAQ:MIDD) Director Sells 500 Shares of Stock

The Middleby Co. (NASDAQ:MIDD) Director Chapin Sarah Palisi sold 500 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the transaction, the director now directly owns 6,111 shares of the company’s stock, valued at $999,209.61. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Middleby Stock Up 0.7 %

Shares of MIDD stock opened at $160.10 on Thursday. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $182.73. The stock has a 50 day moving average of $154.56 and a 200 day moving average of $143.90. The stock has a market cap of $8.59 billion, a P/E ratio of 22.08 and a beta of 1.64.

Middleby (NASDAQ:MIDD) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.38. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.65 EPS. As a group, sell-side analysts expect that The Middleby Co. will post 9.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Barclays boosted their price target on Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. StockNews.com cut Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $180.86.

Institutional Investors Weigh In On Middleby

A number of institutional investors have recently modified their holdings of MIDD. Covestor Ltd boosted its position in Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after buying an additional 287 shares in the last quarter. UMB Bank n.a. grew its stake in Middleby by 41.1% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 116 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Middleby in the 4th quarter worth $71,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Middleby during the third quarter worth $72,000. 98.55% of the stock is currently owned by institutional investors and hedge funds.

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.