The Middleby Co. (NASDAQ:MIDD) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lowered its position in shares of The Middleby Co. (NASDAQ:MIDD) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,775 shares of the industrial products company’s stock after selling 257 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Middleby were worth $1,459,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

MIDD has been the subject of a number of recent analyst reports. KeyCorp reduced their target price on Middleby from $185.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Barclays raised their price objective on shares of Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. StockNews.com lowered shares of Middleby from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th. JPMorgan Chase & Co. increased their target price on shares of Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group boosted their price target on Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $179.43.

Middleby Trading Down 1.6 %

Shares of MIDD opened at $127.48 on Thursday. The Middleby Co. has a 1-year low of $118.41 and a 1-year high of $182.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The firm has a 50 day simple moving average of $153.61 and a 200-day simple moving average of $145.79. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 17.58 and a beta of 1.44.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.38. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.65 earnings per share. Equities analysts forecast that The Middleby Co. will post 9.11 EPS for the current fiscal year.

Insider Buying and Selling at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value 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 is accessible through this link. 6.18% of the stock is owned by insiders.

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.