Manitowoc Food Service, Inc. (WBT) SVP Joel H. Horn Sells 1,561 Shares of Stock

Manitowoc Food Service, Inc. (NYSE:WBT) SVP Joel H. Horn sold 1,561 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $19.23, for a total transaction of $30,018.03. Following the completion of the sale, the senior vice president now directly owns 3,515 shares in the company, valued at approximately $67,593.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Manitowoc Food Service, Inc. (WBT) traded up 1.32% during mid-day trading on Monday, hitting $19.14. 420,380 shares of the company were exchanged. Manitowoc Food Service, Inc. has a 12-month low of $14.93 and a 12-month high of $21.13. The stock’s 50 day moving average is $19.75 and its 200-day moving average is $19.15. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 39.88 and a beta of 2.23.

Manitowoc Food Service (NYSE:WBT) last issued its quarterly earnings data on Monday, May 8th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.01. The company had revenue of $328 million for the quarter, compared to the consensus estimate of $318.12 million. Manitowoc Food Service had a net margin of 4.55% and a negative return on equity of 121.38%. Manitowoc Food Service’s revenue was up .8% compared to the same quarter last year. Equities research analysts predict that Manitowoc Food Service, Inc. will post $0.72 EPS for the current year.

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A number of analysts recently weighed in on WBT shares. Zacks Investment Research raised shares of Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Wednesday, May 10th. Barclays PLC increased their price objective on shares of Manitowoc Food Service from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Manitowoc Food Service presently has an average rating of “Buy” and an average target price of $21.50.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in shares of Manitowoc Food Service during the first quarter worth about $324,000. DnB Asset Management AS bought a new position in shares of Manitowoc Food Service during the first quarter worth about $4,205,000. Nisa Investment Advisors LLC bought a new position in shares of Manitowoc Food Service during the first quarter worth about $120,000. Diversified Trust Co bought a new position in shares of Manitowoc Food Service during the first quarter worth about $222,000. Finally, Nationwide Fund Advisors bought a new position in shares of Manitowoc Food Service during the first quarter worth about $2,180,000. 86.86% of the stock is owned by institutional investors.

About Manitowoc Food Service

Welbilt, Inc, formerly Manitowoc Foodservice, Inc, is a commercial foodservice equipment company. The Company designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market, offering customers operator and patron insights, kitchen solutions, culinary expertise, and implementation support and service.

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