TD Private Client Wealth LLC Has $1.17 Million Stake in The Middleby Corporation (NASDAQ:MIDD)

TD Private Client Wealth LLC grew its position in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 46.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,709 shares of the industrial products company's stock after buying an additional 2,444 shares during the quarter. TD Private Client Wealth LLC's holdings in Middleby were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc raised its stake in shares of 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 in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Middleby in the 4th quarter valued at approximately $71,000. Coppell Advisory Solutions LLC raised its stake in shares of Middleby by 220.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company's stock valued at $82,000 after acquiring an additional 417 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Middleby by 60.3% in the 1st quarter. UMB Bank n.a. now owns 638 shares of the industrial products company's stock valued at $97,000 after acquiring an additional 240 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Middleby by 286.8% in the 4th quarter. Jones Financial Companies Lllp now owns 762 shares of the industrial products company's stock valued at $103,000 after acquiring an additional 565 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Performance

Shares of MIDD traded up $0.67 on Wednesday, reaching $148.73. 777,602 shares of the stock traded hands, compared to its average volume of 740,006. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 18.59 and a beta of 1.57. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.72 and a quick ratio of 1.73. The Middleby Corporation has a 12 month low of $118.83 and a 12 month high of $182.73. The stock's 50-day moving average price is $144.84 and its 200-day moving average price is $147.59.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $906.63 million for the quarter, compared to analysts' expectations of $941.46 million. Middleby had a return on equity of 14.47% and a net margin of 11.26%. Middleby's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 earnings per share. Equities analysts forecast that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MIDD shares. Robert W. Baird cut their price objective on Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded Middleby from a "buy" rating to a "hold" rating in a research report on Thursday, April 10th. Canaccord Genuity Group dropped their price target on Middleby from $200.00 to $186.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, KeyCorp dropped their price target on Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $168.14.

Insider Activity

In other news, Director Edward P. Garden acquired 137,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were acquired at an average cost of $148.03 per share, for a total transaction of $20,280,110.00. Following the completion of the transaction, the director owned 3,276,834 shares in the company, valued at approximately $485,069,737.02. This trade represents a 4.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased 640,968 shares of company stock worth $93,495,270 in the last quarter. Insiders own 6.18% 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.