Chapin Sarah Palisi Sells 500 Shares of The Middleby Co. (NASDAQ:MIDD) Stock

The Middleby Co. (NASDAQ:MIDD - Get Free Report) Director Chapin Sarah Palisi sold 500 shares of Middleby stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $163.51, for a total transaction of $81,755.00. Following the transaction, the director now directly owns 6,111 shares in the company, valued at $999,209.61. This represents a 7.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Middleby Trading Up 0.3 %

Shares of NASDAQ MIDD traded up $0.46 during trading hours on Friday, hitting $158.53. 127,189 shares of the company traded hands, compared to its average volume of 838,381. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 21.87 and a beta of 1.64. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $182.73. The company's 50 day moving average price is $155.03 and its 200 day moving average price is $144.01. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD - Get Free Report) last released its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.38. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business's revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the company earned $2.65 earnings per share. On average, equities research analysts anticipate that The Middleby Co. will post 9.11 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Covestor Ltd increased its stake in shares of Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company's stock valued at $35,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC grew its holdings in Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company's stock worth $45,000 after acquiring an additional 287 shares in the last quarter. UMB Bank n.a. increased its position in Middleby by 41.1% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 116 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Middleby in the 4th quarter valued at about $71,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Middleby in the 3rd quarter worth approximately $72,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MIDD shares. KeyCorp boosted their price objective on Middleby from $160.00 to $185.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. Canaccord Genuity Group boosted their price target on Middleby from $192.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Jefferies Financial Group reaffirmed a "hold" rating and set a $160.00 price objective (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. Robert W. Baird lifted their price objective on shares of Middleby from $157.00 to $227.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, Barclays upped their target price on shares of Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $180.86.

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.