Simon Quick Advisors LLC Buys 461 Shares of The Middleby Co. (NASDAQ:MIDD)

Simon Quick Advisors LLC grew its holdings in The Middleby Co. (NASDAQ:MIDD) by 7.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,766 shares of the industrial products company’s stock after purchasing an additional 461 shares during the quarter. Simon Quick Advisors LLC’s holdings in Middleby were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Middleby by 760.0% in the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 228 shares during the period. 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 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 during the period. Coppell Advisory Solutions LLC raised its stake in Middleby by 220.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company’s stock worth $82,000 after buying an additional 417 shares during the period. Finally, UMB Bank n.a. raised its stake in Middleby by 60.3% during the 1st quarter. UMB Bank n.a. now owns 638 shares of the industrial products company’s stock worth $97,000 after buying an additional 240 shares during the period. 98.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Middleby news, Director Edward P. Garden bought 621 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average cost of $149.62 per share, with a total value of $92,914.02. Following the completion of the purchase, the director now directly owns 3,139,834 shares of the company’s stock, valued at $469,781,963.08. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have acquired 640,968 shares of company stock worth $93,495,270. Corporate insiders own 6.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MIDD shares. Robert W. Baird dropped their price target on Middleby from $188.00 to $162.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a report on Wednesday, February 26th. Wall Street Zen lowered Middleby from a “buy” rating to a “hold” rating in a report on Thursday, April 10th. KeyCorp decreased their price objective on Middleby from $185.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Canaccord Genuity Group reduced their target price on Middleby from $200.00 to $186.00 and set a “buy” rating for the company in a report on Thursday, May 8th. One 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $168.14.

Middleby Stock Performance

MIDD stock opened at $143.88 on Friday. The firm has a market cap of $7.72 billion, a PE ratio of 19.85 and a beta of 1.61. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $139.78 and a 200-day moving average of $147.01. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $182.73.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.14. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $906.63 million during the quarter, compared to analyst estimates of $941.46 million. During the same period in the prior year, the company earned $1.89 earnings per share. Middleby’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that The Middleby Co. will post 9.11 earnings per share for the current year.

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.