Icon Wealth Partners LLC lessened its stake in The Middleby Co. (NASDAQ:MIDD – Get Rating) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,333 shares of the industrial products company’s stock after selling 370 shares during the quarter. Icon Wealth Partners LLC’s holdings in Middleby were worth $546,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its position in Middleby by 39.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 191 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 54 shares in the last quarter. Fifth Third Bancorp increased its position in Middleby by 17.0% in the 4th quarter. Fifth Third Bancorp now owns 400 shares of the industrial products company’s stock valued at $79,000 after acquiring an additional 58 shares in the last quarter. FDx Advisors Inc. increased its position in Middleby by 2.1% in the 4th quarter. FDx Advisors Inc. now owns 3,788 shares of the industrial products company’s stock valued at $745,000 after acquiring an additional 79 shares in the last quarter. Camden Capital LLC increased its position in Middleby by 5.1% in the 4th quarter. Camden Capital LLC now owns 1,887 shares of the industrial products company’s stock valued at $371,000 after acquiring an additional 91 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Middleby by 5.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,871 shares of the industrial products company’s stock valued at $368,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.
MIDD has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Middleby in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reduced their target price on shares of Middleby from $198.00 to $195.00 and set a “neutral” rating on the stock in a research note on Monday, March 28th. Robert W. Baird reduced their target price on shares of Middleby from $211.00 to $201.00 in a research note on Wednesday, May 11th. KeyCorp reduced their target price on shares of Middleby from $200.00 to $182.00 in a research note on Wednesday, May 11th. Finally, Citigroup reduced their target price on shares of Middleby to $180.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Middleby currently has an average rating of “Moderate Buy” and an average price target of $195.00.
NASDAQ:MIDD opened at $125.36 on Friday. The Middleby Co. has a 1 year low of $121.85 and a 1 year high of $201.34. The stock has a 50-day moving average price of $141.98 and a two-hundred day moving average price of $165.83. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 14.68 and a beta of 1.56. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.06.
Middleby (NASDAQ:MIDD – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.01. The business had revenue of $994.68 million during the quarter, compared to analyst estimates of $934.97 million. Middleby had a return on equity of 19.53% and a net margin of 13.91%. Middleby’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.79 EPS. Sell-side analysts forecast that The Middleby Co. will post 9.59 earnings per share for the current year.
In other Middleby news, Director Nassem Ziyad acquired 2,035 shares of the stock in a transaction dated Tuesday, May 24th. The shares were bought at an average cost of $135.83 per share, for a total transaction of $276,414.05. Following the completion of the acquisition, the director now directly owns 10,845 shares of the company’s stock, valued at $1,473,076.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert A. Nerbonne bought 1,450 shares of Middleby stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average price of $139.57 per share, with a total value of $202,376.50. Following the acquisition, the director now directly owns 17,276 shares of the company’s stock, valued at approximately $2,411,211.32. The disclosure for this purchase can be found here. Insiders have bought 10,985 shares of company stock valued at $1,470,966 in the last three months. 1.24% of the stock is owned by insiders.
About Middleby: (Get Rating)
The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, 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; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.
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