Evoke Wealth LLC Sells 1,269 Shares of The Middleby Co. (NASDAQ:MIDD)

Evoke Wealth LLC trimmed its position in shares of The Middleby Co. (NASDAQ:MIDD) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,610 shares of the industrial products company’s stock after selling 1,269 shares during the period. Evoke Wealth LLC’s holdings in Middleby were worth $2,792,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MIDD. Avior Wealth Management LLC raised its position in Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 287 shares during the last quarter. UMB Bank n.a. lifted its stake in Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 116 shares during the period. Principal Securities Inc. boosted its holdings in Middleby by 16.0% in the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 78 shares in the last quarter. GAMMA Investing LLC increased its position in Middleby by 27.2% during the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 133 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Middleby in the 3rd quarter worth $88,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MIDD. Canaccord Genuity Group boosted their price target on shares of Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Barclays upped their target price on Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. StockNews.com cut Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. KeyCorp raised their price objective on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 target price (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $180.86.

Insider Transactions at Middleby

In related news, Director Chapin Sarah Palisi sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $163.51, for a total value of $81,755.00. Following the sale, the director now owns 6,111 shares in the company, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.16% of the company’s stock.

Middleby Stock Performance

Shares of MIDD stock opened at $153.52 on Tuesday. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 21.18 and a beta of 1.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The Middleby Co. has a one year low of $118.41 and a one year high of $182.73. The company’s 50-day moving average is $158.09 and its 200 day moving average is $144.85.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $996.69 million. During the same period in the prior year, the company posted $2.65 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Sell-side analysts expect that The Middleby Co. will post 9.11 EPS for the current fiscal year.

Middleby 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.