The Middleby Co. (NASDAQ:MIDD) Director Purchases 37,473 Shares

The Middleby Co. (NASDAQ:MIDD - Get Free Report) Director Edward P. Garden acquired 37,473 shares of the stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $148.40 per share, with a total value of $5,560,993.20. Following the transaction, the director now directly owns 3,125,736 shares of the company's stock, valued at $463,859,222.40. This represents a 1.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Middleby Stock Performance

Shares of Middleby stock traded up $2.13 during trading hours on Thursday, reaching $147.14. The company's stock had a trading volume of 885,287 shares, compared to its average volume of 716,214. The Middleby Co. has a one year low of $118.41 and a one year high of $182.73. The company's 50 day simple moving average is $141.04 and its 200 day simple moving average is $146.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The stock has a market cap of $7.89 billion, a P/E ratio of 20.30 and a beta of 1.65.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its earnings results 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. The company had revenue of $906.63 million during the quarter, compared to analyst estimates of $941.46 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business's revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 earnings per share. As a group, analysts expect that The Middleby Co. will post 9.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MIDD. KeyCorp dropped their target price on Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird decreased their price target on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a report on Wednesday, February 26th. Barclays increased their price target on shares of Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Wall Street Zen lowered Middleby from a "buy" rating to a "hold" rating in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Middleby has an average rating of "Hold" and an average target price of $168.14.

Hedge Funds Weigh In On Middleby

Hedge funds and other institutional investors have recently modified their holdings of the company. TCTC Holdings LLC increased its stake in shares of Middleby by 116.7% in the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc increased its position 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 period. UMB Bank n.a. raised its stake in Middleby by 41.1% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Middleby by 90.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company's stock worth $66,000 after acquiring an additional 205 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Middleby in the fourth quarter worth $71,000. Institutional investors and hedge funds own 98.55% of the company's stock.

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.