Middleby Target of Unusually High Options Trading (MIDD)

Middleby Corp (NASDAQ:MIDD) was the target of unusually large options trading on Tuesday. Stock investors purchased 1,701 call options on the company. This is an increase of approximately 2,199% compared to the typical daily volume of 74 call options.

In related news, Director John R. Miller III sold 2,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $126.37, for a total transaction of $252,740.00. Following the sale, the director now owns 16,000 shares of the company’s stock, valued at $2,021,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chapin Sarah Palisi sold 300 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $124.18, for a total value of $37,254.00. Following the sale, the director now directly owns 5,100 shares in the company, valued at approximately $633,318. The disclosure for this sale can be found here. Insiders have sold 2,400 shares of company stock worth $303,494 in the last three months. 1.98% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc lifted its stake in shares of Middleby by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 4,755,844 shares of the industrial products company’s stock valued at $615,168,000 after acquiring an additional 47,899 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Middleby by 2.5% in the 4th quarter. BlackRock Inc. now owns 2,739,448 shares of the industrial products company’s stock valued at $281,424,000 after acquiring an additional 67,104 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Middleby by 1.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,428,973 shares of the industrial products company’s stock valued at $315,839,000 after acquiring an additional 37,407 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Middleby by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 1,845,531 shares of the industrial products company’s stock valued at $239,975,000 after purchasing an additional 14,143 shares during the period. Finally, CI Investments Inc. acquired a new stake in Middleby in the fourth quarter valued at $121,121,000.

A number of equities research analysts recently issued reports on the company. CL King raised Middleby from a “buy” rating to a “strong-buy” rating and set a $160.00 price target on the stock in a research report on Wednesday, April 3rd. Jefferies Financial Group started coverage on Middleby in a research note on Wednesday, April 3rd. They set a “hold” rating and a $135.00 target price for the company. BidaskClub cut Middleby from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 10th. Zacks Investment Research cut Middleby from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Finally, ValuEngine upgraded Middleby from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Middleby currently has a consensus rating of “Buy” and an average price target of $147.43.

Shares of MIDD opened at $138.58 on Wednesday. Middleby has a 52 week low of $96.65 and a 52 week high of $140.15. The firm has a market capitalization of $7.55 billion, a PE ratio of 22.72 and a beta of 1.79. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.98 and a quick ratio of 0.95.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.01. Middleby had a return on equity of 21.91% and a net margin of 11.35%. The company had revenue of $686.80 million during the quarter, compared to analysts’ expectations of $683.01 million. During the same period in the prior year, the company earned $1.20 EPS. Middleby’s revenue was up 17.4% compared to the same quarter last year. As a group, analysts expect that Middleby will post 6.92 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Middleby Target of Unusually High Options Trading (MIDD)” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2019/05/22/middleby-target-of-unusually-high-options-trading-midd.html.

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.

Recommended Story: How to interpret Moving Average Convergence Divergence (MACD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.