The Middleby Co. (NASDAQ:MIDD) Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in shares of The Middleby Co. (NASDAQ:MIDD) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,600 shares of the industrial products company’s stock after selling 12,000 shares during the period. Swiss National Bank owned 0.20% of Middleby worth $15,541,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MIDD. Retirement Systems of Alabama raised its stake in Middleby by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 67,136 shares of the industrial products company’s stock valued at $9,880,000 after purchasing an additional 207 shares during the last quarter. South Dakota Investment Council raised its position in shares of Middleby by 2.8% in the fourth quarter. South Dakota Investment Council now owns 20,167 shares of the industrial products company’s stock valued at $2,968,000 after buying an additional 548 shares during the last quarter. Duality Advisers LP lifted its stake in shares of Middleby by 224.9% in the fourth quarter. Duality Advisers LP now owns 24,751 shares of the industrial products company’s stock worth $3,643,000 after buying an additional 17,133 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Middleby by 7.5% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the industrial products company’s stock worth $1,266,000 after acquiring an additional 600 shares during the last quarter. Finally, CWM LLC grew its stake in Middleby by 80.2% during the 4th quarter. CWM LLC now owns 510 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 227 shares in the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MIDD has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Canaccord Genuity Group lowered their price objective on Middleby from $166.00 to $159.00 and set a “buy” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Middleby presently has an average rating of “Moderate Buy” and an average price target of $158.50.

Insider Activity

In related news, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total value of $53,014.50. Following the completion of the sale, the director now owns 6,306 shares in the company, valued at approximately $955,169.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Cathy L. Mccarthy sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total transaction of $153,120.00. Following the completion of the transaction, the director now directly owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total transaction of $53,014.50. Following the completion of the transaction, the director now owns 6,306 shares of the company’s stock, valued at approximately $955,169.82. The disclosure for this sale can be found here. Insiders own 1.16% of the company’s stock.

Middleby Trading Down 1.7 %

Shares of Middleby stock opened at $136.28 on Friday. The Middleby Co. has a fifty-two week low of $109.59 and a fifty-two week high of $161.01. The stock has a 50 day moving average of $148.93 and a 200 day moving average of $140.29. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 18.39 and a beta of 1.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 2.31.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.16). Middleby had a return on equity of 16.99% and a net margin of 9.93%. The business had revenue of $926.90 million for the quarter, compared to analyst estimates of $979.05 million. During the same period in the previous year, the business posted $2.19 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, research analysts predict that The Middleby Co. will post 10.27 earnings per share for the current year.

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.