PNC Financial Services Group Inc. Sells 102 Shares of The Middleby Co. (NASDAQ:MIDD)

PNC Financial Services Group Inc. cut its holdings in The Middleby Co. (NASDAQ:MIDD) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,333 shares of the industrial products company’s stock after selling 102 shares during the period. PNC Financial Services Group Inc. owned 0.09% of Middleby worth $7,260,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MIDD. Signaturefd LLC boosted its holdings in Middleby by 230.1% during the fourth quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 168 shares in the last quarter. Clear Street Markets LLC acquired a new position in shares of Middleby in the 3rd quarter worth approximately $50,000. CWM LLC boosted its holdings in shares of Middleby by 80.2% in the 4th quarter. CWM LLC now owns 510 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 227 shares in the last quarter. Mendota Financial Group LLC boosted its holdings in shares of Middleby by 13.5% in the 4th quarter. Mendota Financial Group LLC now owns 1,090 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 130 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Middleby in the 4th quarter worth approximately $185,000. 98.55% of the stock is currently owned by institutional investors.

Middleby Stock Performance

Shares of Middleby stock opened at $126.76 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.28 and a current ratio of 2.40. The Middleby Co. has a 52 week low of $109.59 and a 52 week high of $161.01. The firm has a fifty day moving average of $144.84 and a two-hundred day moving average of $141.66. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 17.65 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.16). The firm had revenue of $926.90 million during the quarter, compared to the consensus estimate of $979.05 million. Middleby had a net margin of 9.82% and a return on equity of 15.88%. Middleby’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.19 EPS. As a group, equities research analysts predict that The Middleby Co. will post 9.98 EPS for the current year.

Insider Buying and Selling

In related news, Director Chapin Sarah Palisi sold 235 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total value of $32,237.30. Following the completion of the transaction, the director now directly owns 7,211 shares of the company’s stock, valued at approximately $989,204.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Chapin Sarah Palisi sold 235 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total value of $32,237.30. Following the completion of the sale, the director now directly owns 7,211 shares in the company, valued at approximately $989,204.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cathy L. Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total transaction of $153,120.00. Following the sale, the director now owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The disclosure for this sale can be found here. Company insiders own 1.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. William Blair raised Middleby to a “hold” rating in a report on Wednesday, May 8th. Canaccord Genuity Group reduced their price objective on Middleby from $166.00 to $159.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. downgraded Middleby from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $145.00 to $118.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Middleby presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.43.

Middleby 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.