Comerica Bank Sells 497 Shares of The Middleby Corporation (MIDD)

Comerica Bank decreased its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,323 shares of the industrial products company’s stock after selling 497 shares during the period. Comerica Bank’s holdings in The Middleby Corporation were worth $2,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. lifted its position in The Middleby Corporation by 0.9% during the 1st 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 in the last quarter. World Asset Management Inc lifted its position in The Middleby Corporation by 1.1% during the 2nd quarter. World Asset Management Inc now owns 2,591 shares of the industrial products company’s stock worth $315,000 after buying an additional 27 shares in the last quarter. Honkamp Krueger Financial Services Inc. lifted its position in The Middleby Corporation by 0.7% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 5,396 shares of the industrial products company’s stock worth $656,000 after buying an additional 35 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its position in The Middleby Corporation by 1.5% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,373 shares of the industrial products company’s stock worth $324,000 after buying an additional 36 shares in the last quarter. Finally, Keybank National Association OH lifted its position in The Middleby Corporation by 0.6% during the 1st quarter. Keybank National Association OH now owns 7,058 shares of the industrial products company’s stock worth $963,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

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Shares of The Middleby Corporation (MIDD) opened at 121.53 on Friday. The company has a market capitalization of $7.00 billion, a PE ratio of 22.76 and a beta of 1.81. The Middleby Corporation has a 52 week low of $108.45 and a 52 week high of $150.87. The stock has a 50 day moving average price of $121.60 and a 200-day moving average price of $129.31.

The Middleby Corporation (NASDAQ:MIDD) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.01. The company had revenue of $579.34 million for the quarter, compared to analyst estimates of $587.49 million. The Middleby Corporation had a return on equity of 23.05% and a net margin of 13.38%. Equities research analysts expect that The Middleby Corporation will post $5.61 EPS for the current year.

In other The Middleby Corporation news, Director John R. Miller III sold 8,500 shares of The Middleby Corporation stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $118.50, for a total value of $1,007,250.00. Following the completion of the sale, the director now directly owns 16,000 shares in the company, valued at $1,896,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gordon Obrien sold 5,600 shares of The Middleby Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total value of $679,896.00. Following the completion of the sale, the director now owns 11,050 shares of the company’s stock, valued at $1,341,580.50. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Several brokerages have weighed in on MIDD. BMO Capital Markets reissued a “buy” rating and set a $150.00 price objective on shares of The Middleby Corporation in a report on Friday, August 11th. BidaskClub cut The Middleby Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Robert W. Baird dropped their price objective on The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Friday, August 11th. Zacks Investment Research cut The Middleby Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Citigroup Inc. reissued a “neutral” rating and set a $130.00 price objective on shares of The Middleby Corporation in a report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $142.71.

The Middleby Corporation 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.

Institutional Ownership by Quarter for The Middleby Corporation (NASDAQ:MIDD)

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