Vanguard Group Inc. Acquires 22,978 Shares of The Middleby Co. (NASDAQ:MIDD)

Vanguard Group Inc. increased its stake in The Middleby Co. (NASDAQ:MIDD) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,097,488 shares of the industrial products company’s stock after purchasing an additional 22,978 shares during the quarter. Vanguard Group Inc. owned approximately 9.51% of Middleby worth $750,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MIDD. Signaturefd LLC lifted its position in shares of Middleby by 230.1% during the 4th quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock valued at $35,000 after buying an additional 168 shares in the last quarter. Assetmark Inc. boosted its position in shares of Middleby by 1,158.3% in the fourth quarter. Assetmark Inc. now owns 453 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 417 shares during the period. CWM LLC increased its stake in shares of Middleby by 80.2% in the fourth quarter. CWM LLC now owns 510 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 227 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Middleby during the 4th quarter valued at $75,000. Finally, Mendota Financial Group LLC lifted its stake in shares of Middleby by 13.5% during the 4th quarter. Mendota Financial Group LLC now owns 1,090 shares of the industrial products company’s stock valued at $160,000 after buying an additional 130 shares in the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Chapin Sarah Palisi sold 235 shares of Middleby stock in a transaction dated Wednesday, May 15th. The stock was 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 owns 7,211 shares in the company, valued at $989,204.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Chapin Sarah Palisi sold 235 shares of the firm’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 completion of the sale, the director now directly owns 7,211 shares in the company, valued at $989,204.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John R. Miller III sold 2,000 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $126.32, for a total transaction of $252,640.00. Following the transaction, the director now owns 10,931 shares in the company, valued at approximately $1,380,803.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,385 shares of company stock worth $304,134. 1.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MIDD has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their price target on Middleby from $166.00 to $159.00 and set a “buy” rating on the stock 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 company from $145.00 to $118.00 in a research note on Wednesday, May 22nd. Finally, William Blair upgraded Middleby to a “hold” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $153.43.

Middleby Stock Performance

NASDAQ MIDD opened at $125.90 on Friday. 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 Middleby Co. has a 1-year low of $109.59 and a 1-year high of $161.01. The business has a 50 day simple moving average of $133.17 and a two-hundred day simple moving average of $142.12. The stock has a market capitalization of $6.77 billion, a PE ratio of 17.53 and a beta of 1.60.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.16). Middleby had a return on equity of 15.88% and a net margin of 9.82%. The business had revenue of $926.90 million during the quarter, compared to the consensus estimate of $979.05 million. During the same quarter in the prior year, the firm posted $2.19 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, research analysts predict that The Middleby Co. will post 9.79 EPS for the current fiscal 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.