Evoke Wealth LLC Sells 1,269 Shares of The Middleby Co. (NASDAQ:MIDD)

Evoke Wealth LLC cut its holdings in The Middleby Co. (NASDAQ:MIDD) by 5.8% during the 4th quarter, Holdings Channel reports. The fund owned 20,610 shares of the industrial products company’s stock after selling 1,269 shares during the period. Evoke Wealth LLC’s holdings in Middleby were worth $2,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. CIBC Asset Management Inc bought a new position in Middleby in the 3rd quarter worth $218,000. Natixis Advisors LLC purchased a new stake in Middleby in the third quarter worth about $10,928,000. Quest Partners LLC raised its stake in shares of Middleby by 142,460.0% in the third quarter. Quest Partners LLC now owns 7,128 shares of the industrial products company’s stock worth $992,000 after buying an additional 7,123 shares during the period. Caprock Group LLC purchased a new position in shares of Middleby during the 3rd quarter valued at about $211,000. Finally, Avior Wealth Management LLC grew its stake in shares of Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 287 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Price Performance

Shares of Middleby stock opened at $153.52 on Tuesday. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $182.73. The stock has a 50 day moving average of $158.09 and a 200 day moving average of $144.85. The firm has a market cap of $8.23 billion, a PE ratio of 21.18 and a beta of 1.72.

Middleby (NASDAQ:MIDD) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.38. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. Middleby’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the firm posted $2.65 earnings per share. On average, research analysts expect that The Middleby Co. will post 9.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays raised their target price on shares of Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Robert W. Baird lifted their target price on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Canaccord Genuity Group increased 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. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Finally, KeyCorp lifted their target price on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $180.86.

Insider Transactions at Middleby

In other news, Director Chapin Sarah Palisi sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the transaction, the director now owns 6,111 shares of the company’s stock, valued at approximately $999,209.61. The trade was a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.16% of the company’s stock.

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.