Posted by admin on Aug 19th, 2022

Toronto Dominion Bank lessened its position in shares of The Middleby Co. (NASDAQ:MIDD – Get Rating) by 87.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,223 shares of the industrial products company’s stock after selling 36,572 shares during the period. Toronto Dominion Bank’s holdings in Middleby were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its holdings in Middleby by 39.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 191 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 54 shares during the period. Arizona State Retirement System grew its stake in Middleby by 0.4% in the 1st quarter. Arizona State Retirement System now owns 15,037 shares of the industrial products company’s stock worth $2,465,000 after buying an additional 65 shares in the last quarter. Camden Capital LLC grew its stake in Middleby by 5.1% in the 4th quarter. Camden Capital LLC now owns 1,887 shares of the industrial products company’s stock worth $371,000 after buying an additional 91 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Middleby by 5.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,871 shares of the industrial products company’s stock worth $368,000 after buying an additional 95 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Middleby by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,335 shares of the industrial products company’s stock worth $459,000 after buying an additional 116 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Shares of Middleby stock opened at $158.85 on Friday. The Middleby Co. has a 52-week low of $120.30 and a 52-week high of $201.34. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 18.73 and a beta of 1.59. The company has a fifty day moving average of $136.29 and a 200-day moving average of $153.05. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.95 and a current ratio of 1.98.

Middleby (NASDAQ:MIDD – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The industrial products company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.07. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.84 million. Middleby had a net margin of 12.94% and a return on equity of 19.11%. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.11 EPS. Equities research analysts expect that The Middleby Co. will post 9.52 EPS for the current year.

In other Middleby news, Director Cathy L. Mccarthy sold 500 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $157.06, for a total transaction of $78,530.00. Following the completion of the sale, the director now owns 7,925 shares of the company’s stock, valued at approximately $1,244,700.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Middleby news, Director Cathy L. Mccarthy sold 500 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $157.06, for a total transaction of $78,530.00. Following the completion of the sale, the director now owns 7,925 shares of the company’s stock, valued at approximately $1,244,700.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Chapin Sarah Palisi sold 250 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $148.53, for a total transaction of $37,132.50. Following the sale, the director now directly owns 7,460 shares of the company’s stock, valued at approximately $1,108,033.80. The disclosure for this sale can be found here. 1.24% of the stock is currently owned by corporate insiders.

A number of equities analysts have commented on the stock. Robert W. Baird cut their price target on shares of Middleby from $211.00 to $201.00 in a research note on Wednesday, May 11th. KeyCorp cut their price target on shares of Middleby from $182.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Citigroup cut their price objective on shares of Middleby from $180.00 to $160.00 in a research note on Thursday, July 7th. TheStreet cut shares of Middleby from a “b-” rating to a “c+” rating in a research note on Wednesday, May 11th. Finally, JPMorgan Chase & Co. cut their price objective 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. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Middleby currently has an average 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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