Heartland Advisors Inc. Cuts Holdings in The Middleby Co. (NASDAQ:MIDD)

Heartland Advisors Inc. trimmed its holdings in shares of The Middleby Co. (NASDAQ:MIDDFree Report) by 1.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 49,470 shares of the industrial products company’s stock after selling 760 shares during the quarter. Heartland Advisors Inc.’s holdings in Middleby were worth $6,701,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Middleby by 41.1% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 116 shares in the last quarter. Principal Securities Inc. grew its holdings in Middleby by 16.0% in the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock worth $77,000 after buying an additional 78 shares in the last quarter. GAMMA Investing LLC grew its position in Middleby by 27.2% in the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company’s stock valued at $84,000 after buying an additional 133 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Middleby during the third quarter valued at approximately $88,000. Finally, Crewe Advisors LLC raised its position in Middleby by 73.2% in the fourth quarter. Crewe Advisors LLC now owns 710 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 300 shares in the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Robert W. Baird upped their target price on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Barclays raised their target price on Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. KeyCorp raised their target price on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, January 27th. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Middleby has an average rating of “Moderate Buy” and a consensus price target of $180.86.

Read Our Latest Analysis on MIDD

Insider Activity

In other news, Director Chapin Sarah Palisi sold 500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the transaction, the director now directly owns 6,111 shares of the company’s stock, valued at $999,209.61. This represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.16% of the stock is currently owned by company insiders.

Middleby Stock Performance

NASDAQ MIDD opened at $152.76 on Friday. The Middleby Co. has a 1 year low of $118.41 and a 1 year high of $182.73. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The firm’s 50 day simple moving average is $161.29 and its 200 day simple moving average is $145.93. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 21.07 and a beta of 1.72.

Middleby (NASDAQ:MIDDGet Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.38. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $996.69 million. During the same quarter last year, the business earned $2.65 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. As a group, research analysts expect that The Middleby Co. will post 9.11 earnings per share for the current fiscal year.

Middleby Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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