Motley Fool Wealth Management LLC Has $19.21 Million Holding in Middleby Corp (MIDD)

Motley Fool Wealth Management LLC Has $19.21 Million Holding in Middleby Corp (MIDD)

Motley Fool Wealth Management LLC lowered its position in Middleby Corp (NASDAQ:MIDD) by 5.7% during the first quarter, Holdings Channel reports. The firm owned 140,789 shares of the industrial products company’s stock after selling 8,528 shares during the period. Middleby Corp accounts for about 1.8% of Motley Fool Wealth Management LLC’s portfolio, making the stock its 14th largest position. Motley Fool Wealth Management LLC’s holdings in Middleby Corp were worth $19,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MIDD. YorkBridge Wealth Partners LLC boosted its stake in Middleby Corp by 14.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 728 shares of the industrial products company’s stock worth $102,000 after buying an additional 90 shares during the period. Parallel Advisors LLC purchased a new stake in Middleby Corp during the fourth quarter worth approximately $109,000. Advisory Services Network LLC purchased a new stake in Middleby Corp during the first quarter worth approximately $125,000. Bronfman E.L. Rothschild L.P. boosted its stake in Middleby Corp by 0.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,029 shares of the industrial products company’s stock worth $140,000 after buying an additional 9 shares during the period. Finally, Integrated Investment Consultants LLC purchased a new stake in Middleby Corp during the first quarter worth approximately $149,000. 94.69% of the stock is owned by institutional investors.

Shares of Middleby Corp (MIDD) traded up 1.02% during trading on Friday, reaching $132.10. The company had a trading volume of 363,874 shares. The stock has a 50 day moving average of $134.24 and a 200 day moving average of $135.06. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 25.11 and a beta of 1.56. Middleby Corp has a 52-week low of $108.45 and a 52-week high of $150.87.

Middleby Corp (NASDAQ:MIDD) last issued its earnings results on Tuesday, May 9th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.12. Middleby Corp had a net margin of 11.50% and a return on equity of 21.83%. The firm had revenue of $530.30 million for the quarter, compared to analysts’ expectations of $542.50 million. Equities research analysts forecast that Middleby Corp will post $5.72 EPS for the current year.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Middleby Corp from a “sell” rating to a “hold” rating in a research report on Thursday, March 2nd. KeyCorp assumed coverage on Middleby Corp in a research report on Monday, February 13th. They set an “overweight” rating and a $157.00 target price on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of Middleby Corp in a research report on Wednesday, May 17th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Middleby Corp presently has an average rating of “Hold” and a consensus target price of $144.00.

In other Middleby Corp news, Director Robert B. Lamb sold 2,199 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $139.42, for a total value of $306,584.58. Following the transaction, the director now owns 12,879 shares of the company’s stock, valued at $1,795,590.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Martin M. Lindsay sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $139.36, for a total transaction of $1,393,600.00. Following the completion of the transaction, the treasurer now directly owns 76,682 shares in the company, valued at approximately $10,686,403.52. The disclosure for this sale can be found here. Insiders sold 17,199 shares of company stock worth $2,397,235 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Middleby Corp Company Profile

The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MIDD”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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