By otakuyassine3@gmail.com 
Blair William & Co. IL increased its stake in shares of The Middleby Co. (NASDAQ:MIDD – Free Report) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,398 shares of the industrial products company’s stock after acquiring an additional 163 shares during the period. Blair William & Co. IL’s holdings in Middleby were worth $596,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Middleby by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,260,935 shares of the industrial products company’s stock worth $712,594,000 after purchasing an additional 21,771 shares during the period. Assenagon Asset Management S.A. grew its position in Middleby by 4,494.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock valued at $171,524,000 after buying an additional 1,238,767 shares during the period. Geode Capital Management LLC increased its holdings in Middleby by 1.0% in the third quarter. Geode Capital Management LLC now owns 936,596 shares of the industrial products company’s stock valued at $130,341,000 after buying an additional 8,926 shares in the last quarter. Sei Investments Co. raised its position in shares of Middleby by 3.7% in the fourth quarter. Sei Investments Co. now owns 654,641 shares of the industrial products company’s stock worth $88,671,000 after acquiring an additional 23,577 shares during the period. Finally, Amundi boosted its stake in shares of Middleby by 43.6% during the 4th quarter. Amundi now owns 371,854 shares of the industrial products company’s stock worth $50,037,000 after acquiring an additional 112,855 shares in the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.
Middleby Price Performance
Shares of NASDAQ MIDD opened at $142.17 on Friday. The firm has a 50-day simple moving average of $161.82 and a 200-day simple moving average of $146.49. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 19.61 and a beta of 1.72. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $182.73.
Middleby (NASDAQ:MIDD – Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.38. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. Middleby’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.65 EPS. On average, equities analysts predict that The Middleby Co. will post 9.11 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on MIDD shares. Canaccord Genuity Group lifted their price target on Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 target price (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Robert W. Baird lifted their price target on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. StockNews.com lowered shares of Middleby from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, KeyCorp increased their price objective on shares of Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $180.86.
View Our Latest Analysis on MIDD
Insiders Place Their Bets
In other news, Director Chapin Sarah Palisi sold 500 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $163.51, for a total transaction of $81,755.00. Following the transaction, the director now owns 6,111 shares of the company’s stock, valued at approximately $999,209.61. The trade was a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.16% of the stock is currently owned by corporate insiders.
About Middleby
The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.
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