The Middleby Corporation (NASDAQ:MIDD) Holdings Trimmed by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC cut its position in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 37.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,617 shares of the industrial products company's stock after selling 23,458 shares during the period. Middleby accounts for about 1.4% of Hunter Perkins Capital Management LLC's investment portfolio, making the stock its 23rd largest position. Hunter Perkins Capital Management LLC owned approximately 0.07% of Middleby worth $6,021,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in Middleby by 760.0% during the first quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock worth $39,000 after acquiring an additional 228 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Middleby during the fourth quarter valued at approximately $71,000. Principal Securities Inc. lifted its holdings in shares of 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 acquiring an additional 78 shares during the period. Coppell Advisory Solutions LLC grew 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 worth $82,000 after purchasing an additional 417 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in Middleby by 60.3% during the 1st quarter. UMB Bank n.a. now owns 638 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 240 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company's stock.

Analyst Ratings Changes

MIDD has been the subject of a number of recent analyst reports. Wall Street Zen cut Middleby from a "buy" rating to a "hold" rating in a report on Thursday, April 10th. KeyCorp cut their price target on Middleby from $185.00 to $175.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Robert W. Baird decreased their price objective on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, Canaccord Genuity Group dropped their target price on shares of Middleby from $200.00 to $186.00 and set a "buy" 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 given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $168.14.

Middleby Stock Up 0.6%

Shares of NASDAQ MIDD opened at $144.75 on Friday. The stock has a market capitalization of $7.77 billion, a P/E ratio of 18.09 and a beta of 1.61. The stock's fifty day moving average is $141.98 and its 200 day moving average is $147.03. The Middleby Corporation has a 52 week low of $118.41 and a 52 week high of $182.73. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.73 and a current ratio of 2.72.

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

Insiders Place Their Bets

In other Middleby news, Director Edward P. Garden purchased 137,000 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were bought at an average price of $148.03 per share, for a total transaction of $20,280,110.00. Following the purchase, the director now owns 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 640,968 shares of company stock worth $93,495,270 over the last three months. 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.

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