Posted by admin on Aug 21st, 2022
First Horizon Advisors Inc. trimmed its holdings in shares of The Middleby Co. (NASDAQ:MIDD – Get Rating) by 36.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184 shares of the industrial products company’s stock after selling 106 shares during the period. First Horizon Advisors Inc.’s holdings in Middleby were worth $30,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the business. Goldman Sachs Group Inc. lifted its stake in Middleby by 22.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,731,799 shares of the industrial products company’s stock valued at $340,748,000 after acquiring an additional 313,301 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Middleby by 9.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,515,971 shares of the industrial products company’s stock valued at $298,282,000 after purchasing an additional 125,714 shares during the period. Fiera Capital Corp lifted its stake in shares of Middleby by 5.0% in the 1st quarter. Fiera Capital Corp now owns 1,411,407 shares of the industrial products company’s stock valued at $231,386,000 after purchasing an additional 66,617 shares during the period. Nordea Investment Management AB lifted its stake in shares of Middleby by 6.2% in the 1st quarter. Nordea Investment Management AB now owns 1,405,602 shares of the industrial products company’s stock valued at $235,242,000 after purchasing an additional 81,692 shares during the period. Finally, Turtle Creek Asset Management Inc. lifted its stake in shares of Middleby by 1.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 1,121,023 shares of the industrial products company’s stock valued at $220,572,000 after purchasing an additional 10,850 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Nassem Ziyad purchased 2,035 shares of the stock in a transaction dated Tuesday, May 24th. The shares were purchased at an average price of $135.83 per share, with a total value of $276,414.05. Following the transaction, the director now owns 10,845 shares in the company, valued at approximately $1,473,076.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Nassem Ziyad purchased 2,035 shares of the stock in a transaction dated Tuesday, May 24th. The shares were purchased at an average price of $135.83 per share, with a total value of $276,414.05. Following the transaction, the director now owns 10,845 shares in the company, valued at approximately $1,473,076.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Chapin Sarah Palisi sold 250 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $148.53, for a total transaction of $37,132.50. Following the transaction, the director now directly owns 7,460 shares in the company, valued at approximately $1,108,033.80. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company’s stock.
MIDD stock opened at $154.16 on Friday. The company has a current ratio of 1.98, a quick ratio of 0.95 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average of $136.53 and a two-hundred day moving average of $152.60. The Middleby Co. has a 12 month low of $120.30 and a 12 month high of $201.34. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 18.18 and a beta of 1.59.
Middleby (NASDAQ:MIDD – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The industrial products company reported $2.23 EPS for the quarter, beating the consensus estimate of $2.16 by $0.07. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.84 million. Middleby had a return on equity of 19.11% and a net margin of 12.94%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 earnings per share. As a group, analysts forecast that The Middleby Co. will post 9.52 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on MIDD shares. JPMorgan Chase & Co. decreased their target price on shares of Middleby from $160.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 12th. KeyCorp reduced their price objective on shares of Middleby from $182.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. Robert W. Baird reduced their price objective on shares of Middleby from $211.00 to $201.00 in a research report on Wednesday, May 11th. TheStreet cut shares of Middleby from a “b-” rating to a “c+” rating in a research report on Wednesday, May 11th. Finally, Citigroup reduced their price objective on shares of Middleby from $180.00 to $160.00 in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Middleby has a consensus rating of “Moderate Buy” and a consensus price target of $177.60.
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.
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