Corient Private Wealth LLC Cuts Stake in The Middleby Co. (NASDAQ:MIDD)

Corient Private Wealth LLC lessened its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,634 shares of the industrial products company’s stock after selling 473 shares during the quarter. Corient Private Wealth LLC’s holdings in Middleby were worth $1,034,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. UMB Bank n.a. boosted 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 worth $54,000 after acquiring an additional 116 shares in the last quarter. Principal Securities Inc. raised its position in shares of Middleby by 16.0% in the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 78 shares during the last quarter. GAMMA Investing LLC boosted its stake in Middleby by 27.2% in the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 133 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Middleby during the 3rd quarter worth approximately $88,000. Finally, Crewe Advisors LLC increased its stake in Middleby by 73.2% during the 4th quarter. Crewe Advisors LLC now owns 710 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Down 0.1 %

MIDD stock opened at $156.52 on Thursday. The Middleby Co. has a one year low of $118.41 and a one year high of $182.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The firm’s fifty day moving average is $160.76 and its 200 day moving average is $145.70. The firm has a market cap of $8.39 billion, a PE ratio of 21.59 and a beta of 1.72.

Middleby (NASDAQ:MIDD) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.38. The firm had revenue of $1.01 billion for 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 company’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the firm earned $2.65 EPS. On average, research analysts forecast that The Middleby Co. will post 9.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MIDD shares. Jefferies Financial Group reissued a “hold” rating and set a $160.00 price objective (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. Barclays raised their price objective on Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group upped their target price on Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. KeyCorp raised their price target on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Middleby presently has an average rating of “Moderate Buy” and a consensus target price of $180.86.

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 shares were 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 of the company’s stock, valued at $999,209.61. The trade was a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.16% 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.