3,643 Shares in The Middleby Corporation (NASDAQ:MIDD) Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new position in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,643 shares of the industrial products company's stock, valued at approximately $554,000.

Several other institutional investors have also recently made changes to their positions in the business. Versant Capital Management Inc boosted its stake in Middleby by 760.0% during the first quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock valued at $39,000 after buying an additional 228 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Middleby during the fourth quarter valued at approximately $71,000. Principal Securities Inc. boosted its stake in Middleby by 16.0% during the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock valued at $77,000 after buying an additional 78 shares during the last quarter. Coppell Advisory Solutions LLC boosted 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 valued at $82,000 after buying an additional 417 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Middleby by 60.3% during the first quarter. UMB Bank n.a. now owns 638 shares of the industrial products company's stock valued at $97,000 after buying an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company's stock.

Insider Buying and Selling

In other Middleby news, Director Edward P. Garden bought 203,058 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average cost of $139.13 per share, for a total transaction of $28,251,459.54. Following the purchase, the director now directly owns 2,838,924 shares in the company, valued at $394,979,496.12. This represents a 7.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 640,968 shares of company stock worth $93,495,270 in the last ninety days. 6.18% of the stock is owned by insiders.

Middleby Trading Up 0.6%

Shares of NASDAQ:MIDD opened at $141.78 on Thursday. The Middleby Corporation has a 12-month low of $118.41 and a 12-month high of $182.73. The business's fifty day simple moving average is $140.40 and its 200-day simple moving average is $147.00. The company has a market capitalization of $7.61 billion, a PE ratio of 17.72 and a beta of 1.61. The company has a current ratio of 2.72, a quick ratio of 1.73 and a debt-to-equity ratio of 0.63.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly 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. Middleby had a return on equity of 14.47% and a net margin of 11.26%. The business had revenue of $906.63 million for the quarter, compared to the consensus estimate of $941.46 million. During the same period last year, the business posted $1.89 EPS. The business's revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts predict that The Middleby Corporation will post 9.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MIDD. Wall Street Zen lowered Middleby from a "buy" rating to a "hold" rating in a research note on Thursday, April 10th. KeyCorp lowered their price objective on Middleby from $185.00 to $175.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. 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. JPMorgan Chase & Co. raised their price objective on Middleby from $145.00 to $150.00 and gave the company an "underweight" rating in a research note on Wednesday, February 26th. Finally, Robert W. Baird decreased their price target on Middleby from $188.00 to $162.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Middleby has an average rating of "Hold" and a consensus price target 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.

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