US Bancorp DE Has $368,000 Position in The Middleby Co. (NASDAQ:MIDD)

US Bancorp DE lowered its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 27.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,715 shares of the industrial products company’s stock after selling 1,011 shares during the quarter. US Bancorp DE’s holdings in Middleby were worth $368,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of Middleby by 121.4% during the fourth quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company’s stock worth $615,000 after purchasing an additional 2,425 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Middleby during the fourth quarter worth about $469,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Middleby during the fourth quarter worth about $219,000. GHP Investment Advisors Inc. raised its position in shares of Middleby by 13.7% during the fourth quarter. GHP Investment Advisors Inc. now owns 22,929 shares of the industrial products company’s stock worth $3,106,000 after purchasing an additional 2,763 shares during the period. Finally, Olstein Capital Management L.P. raised its position in shares of Middleby by 3.6% during the fourth quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company’s stock worth $9,617,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Down 2.9 %

NASDAQ:MIDD opened at $147.69 on Friday. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 20.37 and a beta of 1.72. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $182.73. The stock’s 50 day moving average price is $157.09 and its two-hundred day moving average price is $144.60. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD) last posted its quarterly 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. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $996.69 million. During the same quarter in the previous year, the firm earned $2.65 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. Equities research analysts expect that The Middleby Co. will post 9.11 earnings per share for the current fiscal year.

Insider Transactions at Middleby

In other news, Director Chapin Sarah Palisi sold 500 shares of Middleby stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the transaction, the director now directly owns 6,111 shares in the company, valued at approximately $999,209.61. The trade was a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MIDD shares. JPMorgan Chase & Co. lifted their target price on Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a research report on Wednesday, February 26th. Robert W. Baird lifted their target price on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. KeyCorp lifted their target price on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Finally, StockNews.com lowered Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $180.86.

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.