The Middleby Co. (NASDAQ:MIDD) CEO Buys $992,175.00 in Stock

The Middleby Co. (NASDAQ:MIDDGet Rating) CEO Timothy John Fitzgerald acquired 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average cost of $132.29 per share, for a total transaction of $992,175.00. Following the purchase, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $2,645,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ MIDD opened at $141.66 on Thursday. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $7.76 billion, a PE ratio of 16.59 and a beta of 1.55. The stock’s fifty day simple moving average is $156.69 and its two-hundred day simple moving average is $176.12. The Middleby Co. has a 12-month low of $127.02 and a 12-month high of $201.34.

Middleby (NASDAQ:MIDDGet Rating) last announced its earnings results on Tuesday, May 10th. The industrial products company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.01. Middleby had a return on equity of 19.53% and a net margin of 13.91%. The firm had revenue of $994.68 million for the quarter, compared to the consensus estimate of $934.97 million. During the same period in the previous year, the business earned $1.79 EPS. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities analysts predict that The Middleby Co. will post 9.57 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley increased its holdings in shares of Middleby by 57.8% during the third quarter. Morgan Stanley now owns 141,559 shares of the industrial products company’s stock valued at $24,136,000 after acquiring an additional 51,829 shares in the last quarter. FDx Advisors Inc. increased its holdings in shares of Middleby by 2.1% during the fourth quarter. FDx Advisors Inc. now owns 3,788 shares of the industrial products company’s stock valued at $745,000 after acquiring an additional 79 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in Middleby by 7.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 3,346 shares of the industrial products company’s stock worth $659,000 after buying an additional 234 shares during the period. Pictet Asset Management SA increased its holdings in Middleby by 7.9% in the 4th quarter. Pictet Asset Management SA now owns 318,470 shares of the industrial products company’s stock worth $62,662,000 after buying an additional 23,257 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in Middleby by 84.9% in the 4th quarter. WINTON GROUP Ltd now owns 6,361 shares of the industrial products company’s stock worth $1,252,000 after buying an additional 2,920 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

MIDD has been the topic of several research analyst reports. Zacks Investment Research cut Middleby from a “buy” rating to a “hold” rating and set a $180.00 price objective on the stock. in a research note on Friday, February 25th. TheStreet cut Middleby from a “b-” rating to a “c+” rating in a research note on Wednesday, May 11th. StockNews.com initiated coverage on Middleby in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup dropped their price objective on Middleby to $180.00 and set a “na” rating on the stock in a research note on Monday. Finally, KeyCorp dropped their target price on Middleby from $200.00 to $182.00 in a research report on Wednesday, May 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Middleby has a consensus rating of “Buy” and a consensus target price of $193.57.

Middleby Company Profile (Get Rating)

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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