TD Private Client Wealth LLC Purchases 2,444 Shares of The Middleby Corporation (NASDAQ:MIDD)

TD Private Client Wealth LLC raised its stake in The Middleby Corporation (NASDAQ:MIDD - Free Report) by 46.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Middleby by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,260,935 shares of the industrial products company's stock worth $712,594,000 after purchasing an additional 21,771 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Middleby by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,895,553 shares of the industrial products company's stock worth $256,753,000 after purchasing an additional 35,449 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its holdings in Middleby by 2.9% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 1,866,359 shares of the industrial products company's stock worth $252,798,000 after purchasing an additional 53,276 shares in the last quarter. Earnest Partners LLC boosted its holdings in Middleby by 3.8% in the fourth quarter. Earnest Partners LLC now owns 1,311,966 shares of the industrial products company's stock worth $177,706,000 after purchasing an additional 47,443 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Middleby by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,247,671 shares of the industrial products company's stock worth $169,000,000 after purchasing an additional 150,709 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MIDD. Wall Street Zen upgraded shares of Middleby from a "hold" rating to a "buy" rating in a report on Saturday. Canaccord Genuity Group lowered their target price on shares of Middleby from $200.00 to $186.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. KeyCorp lowered their target price on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Robert W. Baird lowered their target price on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Middleby has a consensus rating of "Moderate Buy" and a consensus target price of $168.14.

Insider Activity at Middleby

In other Middleby news, Director Edward P. Garden acquired 249,339 shares of Middleby stock in a transaction dated Tuesday, May 13th. The stock was bought at an average cost of $149.59 per share, with a total value of $37,298,621.01. Following the acquisition, the director owned 3,088,263 shares of the company's stock, valued at approximately $461,973,262.17. The trade was a 8.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have bought 640,968 shares of company stock worth $93,495,270. 6.18% of the stock is currently owned by company insiders.

Middleby Stock Performance

NASDAQ MIDD traded down $0.66 during midday trading on Friday, hitting $149.50. The company had a trading volume of 1,154,189 shares, compared to its average volume of 748,257. The firm has a fifty day simple moving average of $145.69 and a two-hundred day simple moving average of $147.87. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 18.69 and a beta of 1.57. The Middleby Corporation has a fifty-two week low of $121.70 and a fifty-two week high of $182.73. The company has a quick ratio of 1.73, a current ratio of 2.72 and a debt-to-equity ratio of 0.63.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.14. The company had revenue of $906.63 million during the quarter, compared to the consensus estimate of $941.46 million. Middleby had a net margin of 11.26% and a return on equity of 14.47%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.89 EPS. Equities analysts forecast that The Middleby Corporation will post 9.11 earnings per share for the current fiscal year.

Middleby 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.