The Middleby Co. (NASDAQ:MIDD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in The Middleby Co. (NASDAQ:MIDDFree Report) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 196,774 shares of the industrial products company’s stock after selling 941 shares during the quarter. Principal Financial Group Inc. owned about 0.37% of Middleby worth $28,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Middleby by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 617,974 shares of the industrial products company’s stock valued at $90,953,000 after purchasing an additional 13,632 shares during the last quarter. Principal Securities Inc. acquired a new stake in Middleby during the fourth quarter worth $185,000. Oldfield Partners LLP acquired a new stake in Middleby during the fourth quarter worth $51,736,000. Charles Schwab Investment Management Inc. raised its position in Middleby by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 330,436 shares of the industrial products company’s stock valued at $48,630,000 after purchasing an additional 8,018 shares during the period. Finally, M&T Bank Corp raised its position in Middleby by 4.5% in the fourth quarter. M&T Bank Corp now owns 2,552 shares of the industrial products company’s stock valued at $375,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. William Blair upgraded Middleby to a “hold” rating in a research report on Wednesday, May 8th. Canaccord Genuity Group reduced their target price on Middleby from $166.00 to $159.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.14.

View Our Latest Report on MIDD

Insiders Place Their Bets

In other Middleby news, Director Cathy L. Mccarthy sold 1,000 shares of the company’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Middleby news, Director Cathy L. Mccarthy sold 1,000 shares of the company’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Chapin Sarah Palisi sold 235 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $137.18, for a total value of $32,237.30. Following the sale, the director now owns 7,211 shares in the company, valued at approximately $989,204.98. The disclosure for this sale can be found here. Insiders have sold a total of 1,585 shares of company stock worth $238,372 in the last quarter. 1.16% of the stock is owned by company insiders.

Middleby Price Performance

MIDD stock opened at $133.08 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $7.16 billion, a PE ratio of 18.53 and a beta of 1.58. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01. The business’s fifty day moving average price is $146.78 and its 200 day moving average price is $141.39.

Middleby (NASDAQ:MIDDGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.16). The firm had revenue of $926.90 million during the quarter, compared to analysts’ expectations of $979.05 million. Middleby had a net margin of 9.82% and a return on equity of 15.88%. Middleby’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.19 EPS. On average, sell-side analysts anticipate that The Middleby Co. will post 9.98 EPS for the current year.

Middleby Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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