Middleby Corp (MIDD) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in shares of Middleby Corp (NASDAQ:MIDD) by 64.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,003 shares of the industrial products company’s stock after selling 80,226 shares during the period. Millennium Management LLC’s holdings in Middleby were worth $4,520,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MIDD. Legal & General Group Plc boosted its position in shares of Middleby by 24.0% in the fourth quarter. Legal & General Group Plc now owns 100,542 shares of the industrial products company’s stock valued at $10,329,000 after acquiring an additional 19,490 shares during the period. Segall Bryant & Hamill LLC boosted its position in shares of Middleby by 79.4% in the fourth quarter. Segall Bryant & Hamill LLC now owns 12,006 shares of the industrial products company’s stock valued at $1,233,000 after acquiring an additional 5,315 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of Middleby by 3.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 48,164 shares of the industrial products company’s stock valued at $4,948,000 after acquiring an additional 1,564 shares during the period. Stone Run Capital LLC boosted its position in shares of Middleby by 25.6% in the fourth quarter. Stone Run Capital LLC now owns 43,665 shares of the industrial products company’s stock valued at $4,486,000 after acquiring an additional 8,900 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Middleby in the fourth quarter valued at about $485,000.

MIDD has been the subject of a number of recent research reports. TheStreet raised shares of Middleby from a “c+” rating to a “b” rating in a research report on Friday, January 25th. BidaskClub cut shares of Middleby from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Zacks Investment Research raised shares of Middleby from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research report on Wednesday, January 23rd. Jefferies Financial Group initiated coverage on shares of Middleby in a research report on Wednesday, April 3rd. They issued a “hold” rating and a $135.00 target price for the company. Finally, Robert W. Baird raised shares of Middleby from a “neutral” rating to an “outperform” rating and set a $142.00 target price for the company in a research report on Tuesday, January 22nd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $144.14.

In related news, Director John R. Miller III sold 2,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $126.37, for a total value of $252,740.00. Following the completion of the transaction, the director now owns 16,000 shares of the company’s stock, valued at $2,021,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Chapin Sarah Palisi sold 300 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $124.18, for a total value of $37,254.00. Following the completion of the transaction, the director now directly owns 5,100 shares of the company’s stock, valued at approximately $633,318. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

MIDD stock opened at $135.70 on Wednesday. The stock has a market capitalization of $7.55 billion, a P/E ratio of 22.01 and a beta of 1.82. Middleby Corp has a 52 week low of $96.65 and a 52 week high of $138.62. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.90 and a quick ratio of 0.97.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Wednesday, February 27th. The industrial products company reported $1.79 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.16. The business had revenue of $756.67 million during the quarter, compared to the consensus estimate of $737.69 million. Middleby had a return on equity of 22.18% and a net margin of 11.65%. Middleby’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.35 earnings per share. On average, sell-side analysts predict that Middleby Corp will post 6.95 earnings per share for the current fiscal year.

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About Middleby

The Middleby Corporation designs, manufactures, markets, distributes, and services 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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Want to see what other hedge funds are holding MIDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Middleby Corp (NASDAQ:MIDD).

Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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