The Middleby Co. (NASDAQ:MIDD) Director Buys $2,011,172.71 in Stock

The Middleby Co. (NASDAQ:MIDD) Director Edward P. Garden acquired 13,477 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $149.23 per share, for a total transaction of $2,011,172.71. Following the completion of the acquisition, the director now owns 3,139,213 shares of the company’s stock, valued at $468,464,755.99. This trade represents a 0.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Middleby Stock Performance

Shares of MIDD opened at $151.49 on Monday. The firm has a 50-day moving average of $141.11 and a 200-day moving average of $145.89. The Middleby Co. has a one year low of $118.41 and a one year high of $182.73. The company has a market cap of $8.13 billion, a PE ratio of 20.90 and a beta of 1.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.08 EPS for the quarter, beating 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 the consensus estimate of $941.46 million. During the same quarter last year, the firm posted $1.89 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts forecast that The Middleby Co. will post 9.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on MIDD shares. Canaccord Genuity Group decreased their target price on shares of Middleby from $200.00 to $186.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. StockNews.com downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th. Barclays raised their target price on shares of Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Robert W. Baird decreased their target price on shares of Middleby from $188.00 to $162.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their target price 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 analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Middleby presently has an average rating of “Hold” and an average target price of $168.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MIDD. TCTC Holdings LLC boosted its holdings in shares of Middleby by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock worth $26,000 after buying an additional 91 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Middleby by 760.0% during the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company’s stock worth $39,000 after buying an additional 228 shares during the period. UMB Bank n.a. boosted its holdings in shares of Middleby by 41.1% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock worth $54,000 after buying an additional 116 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Middleby by 90.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock worth $66,000 after buying an additional 205 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Middleby during the 4th quarter worth about $71,000. Institutional investors own 98.55% 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.