US Bancorp DE Sells 1,694 Shares of The Middleby Co. (NASDAQ:MIDD)

US Bancorp DE lessened its stake in shares of The Middleby Co. (NASDAQ:MIDDGet Rating) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,555 shares of the industrial products company’s stock after selling 1,694 shares during the period. US Bancorp DE’s holdings in Middleby were worth $968,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MIDD. Wipfli Financial Advisors LLC purchased a new stake in shares of Middleby in the third quarter worth $48,000. Cardinal Capital Management boosted its stake in Middleby by 2.5% in the 3rd quarter. Cardinal Capital Management now owns 5,168 shares of the industrial products company’s stock worth $662,000 after purchasing an additional 127 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Middleby during the 3rd quarter valued at about $1,833,000. Cambridge Investment Research Advisors Inc. bought a new stake in Middleby during the 3rd quarter valued at about $1,446,000. Finally, National Bank of Canada FI raised its holdings in Middleby by 8.6% in the third quarter. National Bank of Canada FI now owns 237,883 shares of the industrial products company’s stock worth $30,482,000 after buying an additional 18,793 shares during the last quarter. Institutional investors own 98.48% of the company’s stock.

Insider Activity at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 250 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $142.86, for a total transaction of $35,715.00. Following the sale, the director now directly owns 6,985 shares of the company’s stock, valued at $997,877.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John R. Miller III sold 1,161 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $139.26, for a total transaction of $161,680.86. Following the transaction, the director now directly owns 11,880 shares in the company, valued at approximately $1,654,408.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chapin Sarah Palisi sold 250 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $142.86, for a total value of $35,715.00. Following the transaction, the director now owns 6,985 shares of the company’s stock, valued at approximately $997,877.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,636 shares of company stock valued at $229,983. Insiders own 1.24% of the company’s stock.

Middleby Stock Down 0.7 %

Shares of MIDD opened at $148.01 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.08 and a quick ratio of 0.95. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 20.25 and a beta of 1.50. The Middleby Co. has a 1 year low of $120.30 and a 1 year high of $201.34. The business’s 50 day simple moving average is $139.27 and its 200-day simple moving average is $138.74.

Middleby (NASDAQ:MIDDGet Rating) last released its quarterly earnings results on Wednesday, November 9th. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). Middleby had a net margin of 10.50% and a return on equity of 19.17%. The business had revenue of $992.87 million for the quarter, compared to analysts’ expectations of $1.02 billion. As a group, equities analysts expect that The Middleby Co. will post 9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Robert W. Baird cut their price target on shares of Middleby from $145.00 to $140.00 in a report on Friday, November 11th. Canaccord Genuity Group initiated coverage on Middleby in a research note on Wednesday, November 16th. They issued a “buy” rating on the stock. Benchmark cut their target price on shares of Middleby to $170.00 in a research report on Tuesday, November 15th. Barclays upped their price target on Middleby from $175.00 to $177.00 and gave the stock an “overweight” rating in a research report on Friday, January 13th. Finally, Canaccord Genuity Group started coverage on shares of Middleby in a research report on Thursday, November 17th. They set a “buy” rating and a $171.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Middleby has an average rating of “Moderate Buy” and an average target price of $161.14.

About Middleby

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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.

See Also

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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