Davis R M Inc. Sells 5,823 Shares of The Middleby Co. (NASDAQ:MIDD)

Davis R M Inc. lowered its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 70.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,444 shares of the industrial products company’s stock after selling 5,823 shares during the quarter. Davis R M Inc.’s holdings in Middleby were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its holdings in Middleby by 4.5% in the fourth quarter. M&T Bank Corp now owns 2,552 shares of the industrial products company’s stock worth $375,000 after acquiring an additional 110 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Middleby by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 23,362 shares of the industrial products company’s stock worth $2,990,000 after acquiring an additional 120 shares in the last quarter. Cardinal Capital Management boosted its holdings in Middleby by 2.2% in the fourth quarter. Cardinal Capital Management now owns 5,728 shares of the industrial products company’s stock worth $843,000 after acquiring an additional 124 shares in the last quarter. Mendota Financial Group LLC lifted its holdings in shares of Middleby by 13.5% during the fourth quarter. Mendota Financial Group LLC now owns 1,090 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 130 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Middleby by 230.1% during the fourth quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 168 shares during the period. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

MIDD stock traded down $2.25 during trading on Thursday, hitting $126.80. 179,341 shares of the company traded hands, compared to its average volume of 379,071. The stock’s 50-day simple moving average is $145.37 and its 200 day simple moving average is $141.76. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.40 and a quick ratio of 1.28. The company has a market cap of $6.82 billion, a PE ratio of 17.97 and a beta of 1.58. The Middleby Co. has a 1 year low of $109.59 and a 1 year high of $161.01.

Middleby (NASDAQ:MIDD) last posted 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 business had revenue of $926.90 million during the quarter, compared to analysts’ expectations of $979.05 million. Middleby had a net margin of 9.82% and a return on equity of 15.88%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.19 earnings per share. On average, equities analysts expect that The Middleby Co. will post 9.98 earnings per share for the current fiscal year.

Insider Transactions at Middleby

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on MIDD shares. Canaccord Genuity Group decreased their target price on Middleby from $166.00 to $159.00 and set a “buy” rating for the company in a report on Thursday, May 9th. JPMorgan Chase & Co. downgraded Middleby from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $145.00 to $118.00 in a report on Wednesday. Finally, William Blair raised Middleby to a “hold” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Middleby has a consensus rating of “Moderate Buy” and an average target price of $153.43.

Middleby Company 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.