The Middleby Co. (NASDAQ:MIDD) Director Sells $81,755.00 in Stock

The Middleby Co. (NASDAQ:MIDD) Director Chapin Sarah Palisi sold 500 shares of the stock in a transaction on 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 directly owns 6,111 shares in the company, valued at approximately $999,209.61. This represents a 7.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Middleby Stock Performance

MIDD stock opened at $160.10 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The Middleby Co. has a 1-year low of $118.41 and a 1-year high of $182.73. The business has a 50-day moving average price of $154.56 and a 200 day moving average price of $143.90. The company has a market capitalization of $8.59 billion, a P/E ratio of 22.08 and a beta of 1.64.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.38. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.65 EPS. As a group, equities research analysts forecast that The Middleby Co. will post 9.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MIDD. KeyCorp increased their price objective 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. Canaccord Genuity Group raised their price target on Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Barclays upped their price objective on Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 26th. Finally, Robert W. Baird upped their price target on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $180.86.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in Middleby by 13,813.0% in the third quarter. International Assets Investment Management LLC now owns 15,026 shares of the industrial products company’s stock valued at $2,091,000 after purchasing an additional 14,918 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Middleby during the 3rd quarter worth approximately $72,000. State of Alaska Department of Revenue lifted its position in Middleby by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 6,212 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 420 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Middleby by 275.2% in the third quarter. New York State Common Retirement Fund now owns 185,885 shares of the industrial products company’s stock valued at $25,862,000 after acquiring an additional 136,345 shares in the last quarter. Finally, Olstein Capital Management L.P. grew its holdings in Middleby by 3.0% in the third quarter. Olstein Capital Management L.P. now owns 68,500 shares of the industrial products company’s stock worth $9,530,000 after purchasing an additional 2,000 shares during the last quarter. 98.55% of the stock is owned by institutional investors.

About Middleby

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.