The Middleby Co. (NASDAQ:MIDD) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 51.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,193 shares of the industrial products company’s stock after selling 3,425 shares during the quarter. M&T Bank Corp’s holdings in Middleby were worth $432,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 190 shares during the period. Avior Wealth Management LLC lifted its holdings in Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 287 shares during the period. UMB Bank n.a. lifted its holdings in Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 116 shares during the period. Principal Securities Inc. lifted its holdings in Middleby by 16.0% in 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. Finally, GAMMA Investing LLC lifted its holdings in Middleby by 27.2% in the fourth quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 133 shares during the period. 98.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MIDD shares. Robert W. Baird raised their target price on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price target (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. KeyCorp lifted their price target on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Canaccord Genuity Group lifted their price target on Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price target on Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Middleby presently has a consensus rating of “Hold” and a consensus price target of $180.86.

Middleby Trading Down 2.9 %

Middleby stock opened at $147.69 on Friday. 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 stock has a market cap of $7.92 billion, a PE ratio of 20.37 and a beta of 1.72. The stock has a 50-day moving average price of $157.09 and a 200 day moving average price of $144.60. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $182.73.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.50 by $0.38. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 EPS. Equities research analysts predict that The Middleby Co. will post 9.11 earnings per share for the current fiscal year.

Insider Transactions at Middleby

In other news, Director Chapin Sarah Palisi sold 500 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the sale, the director now owns 6,111 shares in the company, valued at approximately $999,209.61. The trade was a 7.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.17% of the company’s stock.

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.