The Middleby Co. (NASDAQ:MIDD) Shares Sold by CNB Bank

CNB Bank trimmed its holdings in The Middleby Co. (NASDAQ:MIDD) by 62.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 893 shares of the industrial products company’s stock after selling 1,473 shares during the quarter. CNB Bank’s holdings in Middleby were worth $131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Covington Capital Management acquired a new stake in Middleby in the 3rd quarter valued at about $25,000. State of Wyoming lifted its holdings in Middleby by 29.5% in the 2nd quarter. State of Wyoming now owns 334 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 76 shares during the last quarter. Clear Street Markets LLC acquired a new stake in Middleby in the 3rd quarter valued at about $50,000. First Horizon Advisors Inc. boosted its holdings in shares of Middleby by 29.0% in the first quarter. First Horizon Advisors Inc. now owns 414 shares of the industrial products company’s stock worth $61,000 after buying an additional 93 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Middleby in the first quarter worth about $89,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Cathy L. Mccarthy sold 1,000 shares of Middleby stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total value of $153,120.00. Following the transaction, the director now owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Chapin Sarah Palisi sold 350 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total value of $53,014.50. Following the sale, the director now owns 6,306 shares in the company, valued at $955,169.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Cathy L. Mccarthy sold 1,000 shares of Middleby stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total transaction 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. Insiders own 1.16% of the company’s stock.

Middleby Stock Up 1.1 %

MIDD traded up $1.59 during midday trading on Friday, hitting $142.60. 290,269 shares of the company’s stock traded hands, compared to its average volume of 266,979. The company has a market cap of $7.64 billion, a PE ratio of 19.24 and a beta of 1.56. The stock’s fifty day simple moving average is $151.22 and its 200-day simple moving average is $138.55. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.31 and a quick ratio of 1.21. The Middleby Co. has a one year low of $109.59 and a one year high of $161.01.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.21. Middleby had a net margin of 9.93% and a return on equity of 16.99%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts anticipate that The Middleby Co. will post 10.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Canaccord Genuity Group raised their target price on shares of Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. TheStreet raised shares of Middleby from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Finally, Jefferies Financial Group increased their price target on shares of Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $159.38.

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.