SG Americas Securities LLC Sells 21,524 Shares of The Middleby Corporation $MIDD

SG Americas Securities LLC cut its position in The Middleby Corporation (NASDAQ:MIDD) by 78.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,740 shares of the industrial products company’s stock after selling 21,524 shares during the quarter. SG Americas Securities LLC’s holdings in Middleby were worth $763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Middleby in the 2nd quarter valued at about $30,000. Allworth Financial LP lifted its stake in Middleby by 168.8% in the 2nd quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 130 shares during the last quarter. AdvisorShares Investments LLC bought a new position in Middleby during the second quarter worth about $37,000. Trust Co. of Toledo NA OH acquired a new position in Middleby during the second quarter worth approximately $47,000. Finally, EverSource Wealth Advisors LLC raised its stake in Middleby by 280.2% in the second quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock valued at $47,000 after buying an additional 241 shares during the period. 98.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Middleby in a research note on Monday, December 29th. Wall Street Zen raised Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. KeyCorp reiterated an “overweight” rating on shares of Middleby in a report on Friday, December 5th. JPMorgan Chase & Co. increased their price objective on shares of Middleby from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Finally, Zacks Research raised shares of Middleby from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.83.

Middleby Stock Down 2.2%

MIDD opened at $145.28 on Wednesday. The stock has a fifty day moving average of $137.81 and a 200-day moving average of $136.48. The company has a market capitalization of $7.32 billion, a P/E ratio of -33.02 and a beta of 1.39. The Middleby Corporation has a fifty-two week low of $110.82 and a fifty-two week high of $182.73. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 2.07.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.34. The business had revenue of $982.13 million for the quarter, compared to analyst estimates of $961.21 million. Middleby had a negative net margin of 5.22% and a positive return on equity of 14.66%. Middleby’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $2.33 earnings per share. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. On average, equities analysts expect that The Middleby Corporation will post 9.11 EPS for the current year.

Insider Buying and Selling at Middleby

In other Middleby news, Director Robert A. Nerbonne purchased 780 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was bought at an average cost of $128.52 per share, for a total transaction of $100,245.60. Following the completion of the transaction, the director owned 21,471 shares in the company, valued at approximately $2,759,452.92. This represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 6.18% of the company’s stock.

Middleby Company Profile

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.