Ellevest Inc. Sells 270 Shares of The Middleby Co. (NASDAQ:MIDD)

Ellevest Inc. decreased its position in shares of The Middleby Co. (NASDAQ:MIDD) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,302 shares of the industrial products company’s stock after selling 270 shares during the quarter. Ellevest Inc.’s holdings in Middleby were worth $447,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in Middleby by 4,494.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock worth $171,524,000 after acquiring an additional 1,238,767 shares in the last quarter. Clarkston Capital Partners LLC bought a new position in shares of Middleby during the fourth quarter valued at approximately $91,869,000. Ameriprise Financial Inc. increased its holdings in Middleby by 237.2% during the fourth quarter. Ameriprise Financial Inc. now owns 366,293 shares of the industrial products company’s stock valued at $49,614,000 after buying an additional 257,669 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in Middleby in the fourth quarter worth approximately $26,930,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Middleby by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,247,671 shares of the industrial products company’s stock worth $169,000,000 after buying an additional 150,709 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Robert W. Baird reduced their price target on Middleby from $188.00 to $162.00 and set an “outperform” rating for the company in a research report on Thursday. KeyCorp reduced their target price on shares of Middleby from $185.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. StockNews.com cut shares of Middleby from a “buy” rating to a “hold” rating in a report on Thursday, April 10th. Barclays boosted their price objective 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. 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 note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Middleby currently has an average rating of “Hold” and a consensus target price of $168.14.

Middleby Trading Up 0.1 %

Shares of MIDD stock opened at $139.66 on Friday. The stock has a 50 day simple moving average of $142.00 and a 200-day simple moving average of $145.35. The Middleby Co. has a 1-year low of $118.41 and a 1-year high of $182.73. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 19.26 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 earnings results on Wednesday, May 7th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.14. The business had revenue of $906.63 million for the quarter, compared to analyst estimates of $941.46 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. On average, equities research analysts expect that The Middleby Co. will post 9.11 EPS for the current fiscal year.

Insider Buying and Selling at Middleby

In related news, Director Chapin Sarah Palisi sold 500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the transaction, the director now directly owns 6,111 shares of the company’s stock, valued at approximately $999,209.61. This represents a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.18% 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.