SG Americas Securities LLC Has $763,000 Stock Position in The Middleby Corporation $MIDD

SG Americas Securities LLC lessened its stake in The Middleby Corporation (NASDAQ:MIDD) by 78.9% in the third quarter, according to the company in its most recent disclosure with the Securities & 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 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MIDD shares. Barclays set a $168.00 target price on Middleby and gave the company an “overweight” rating in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Middleby in a research note on Monday, December 29th. Canaccord Genuity Group lifted their target price on Middleby from $171.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, December 5th. JPMorgan Chase & Co. increased their target price on shares of Middleby from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Middleby in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.83.

Insider Activity

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

Middleby Price Performance

Middleby stock opened at $145.28 on Wednesday. The stock has a 50-day moving average price of $137.81 and a two-hundred day moving average price of $136.48. The Middleby Corporation has a 12 month low of $110.82 and a 12 month high of $182.73. The company has a market capitalization of $7.32 billion, a PE ratio of -33.02 and a beta of 1.39. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.34. The company had revenue of $982.13 million during the quarter, compared to the consensus estimate of $961.21 million. Middleby had a positive return on equity of 14.66% and a negative net margin of 5.22%.The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. Analysts expect that The Middleby Corporation will post 9.11 EPS for the current year.

Middleby 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.