The Middleby Co. (NASDAQ:MIDD) Director Chapin Sarah Palisi Sells 150 Shares

The Middleby Co. (NASDAQ:MIDDGet Free Report) Director Chapin Sarah Palisi sold 150 shares of Middleby stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $128.38, for a total value of $19,257.00. Following the sale, the director now owns 7,061 shares in the company, valued at $906,491.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Chapin Sarah Palisi also recently made the following trade(s):

  • On Wednesday, May 15th, Chapin Sarah Palisi sold 235 shares of Middleby stock. The shares were sold at an average price of $137.18, for a total value of $32,237.30.

Middleby Stock Performance

MIDD traded down $2.10 during trading on Friday, reaching $124.38. 193,069 shares of the company were exchanged, compared to its average volume of 399,574. The stock has a market cap of $6.69 billion, a P/E ratio of 17.18 and a beta of 1.60. The firm has a 50 day moving average of $136.02 and a 200 day moving average of $142.12. The company has a current ratio of 2.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72. The Middleby Co. has a 52 week low of $109.59 and a 52 week high of $161.01.

Middleby (NASDAQ:MIDDGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.16). The company had revenue of $926.90 million for the quarter, compared to the consensus estimate of $979.05 million. Middleby had a return on equity of 15.88% and a net margin of 9.82%. Middleby’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.19 earnings per share. On average, sell-side analysts forecast that The Middleby Co. will post 9.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MIDD shares. William Blair upgraded Middleby to a “hold” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. downgraded Middleby from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $145.00 to $118.00 in a report on Wednesday, May 22nd. Finally, Canaccord Genuity Group lowered their price target on Middleby from $166.00 to $159.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $153.43.

Get Our Latest Stock Report on Middleby

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. acquired a new position in Middleby during the 1st quarter worth $13,887,000. Aurora Investment Counsel raised its position in shares of Middleby by 1.3% during the first quarter. Aurora Investment Counsel now owns 10,584 shares of the industrial products company’s stock worth $1,702,000 after purchasing an additional 133 shares during the period. Cetera Advisors LLC raised its position in shares of Middleby by 13.7% during the first quarter. Cetera Advisors LLC now owns 1,560 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 188 shares during the period. EdgePoint Investment Group Inc. raised its position in shares of Middleby by 1.0% during the first quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock worth $321,342,000 after purchasing an additional 20,511 shares during the period. Finally, Zimmer Partners LP acquired a new position in Middleby during the first quarter valued at $7,797,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

About Middleby

(Get Free Report)

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.

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