Teza Capital Management LLC Acquires New Position in The Middleby Co. (NASDAQ:MIDD)

Teza Capital Management LLC bought a new stake in The Middleby Co. (NASDAQ:MIDD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,715 shares of the industrial products company's stock, valued at approximately $2,129,000.

A number of other institutional investors have also modified their holdings of MIDD. UMB Bank n.a. raised its holdings in Middleby by 41.1% during the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock worth $54,000 after purchasing an additional 116 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Middleby during the 4th quarter worth approximately $71,000. Principal Securities Inc. raised its stake in shares of Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock worth $77,000 after buying an additional 78 shares in the last quarter. Coppell Advisory Solutions LLC lifted its holdings 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 buying an additional 417 shares during the period. Finally, Crewe Advisors LLC boosted its stake in shares of Middleby by 73.2% in the fourth quarter. Crewe Advisors LLC now owns 710 shares of the industrial products company's stock valued at $96,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on MIDD. Robert W. Baird reduced their target price on Middleby from $188.00 to $162.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Canaccord Genuity Group cut their price target on shares of Middleby from $200.00 to $186.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Wall Street Zen cut shares of Middleby from a "buy" rating to a "hold" rating in a research note on Thursday, April 10th. 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 report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Middleby from $145.00 to $150.00 and gave the company an "underweight" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Middleby has a consensus rating of "Hold" and a consensus target price of $168.14.

Middleby Price Performance

Shares of NASDAQ:MIDD traded down $0.94 during midday trading on Friday, hitting $146.20. 195,867 shares of the stock were exchanged, compared to its average volume of 714,179. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $182.73. 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 company has a 50 day moving average price of $140.91 and a 200-day moving average price of $146.16. The stock has a market cap of $7.84 billion, a P/E ratio of 20.13 and a beta of 1.65.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.14. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $906.63 million during the quarter, compared to analysts' expectations of $941.46 million. During the same quarter in the previous year, the business posted $1.89 earnings per share. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts forecast that The Middleby Co. will post 9.11 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Chapin Sarah Palisi sold 500 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the sale, the director now directly owns 6,111 shares in the company, valued at $999,209.61. This represents 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 the SEC website. Also, Director Edward P. Garden acquired 203,058 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average price of $139.13 per share, with a total value of $28,251,459.54. Following the transaction, the director now owns 2,838,924 shares in the company, valued at $394,979,496.12. This represents a 7.70% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 503,968 shares of company stock worth $73,215,160 in the last ninety days. Insiders own 6.18% 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.