Vanguard Group Inc. Raises Holdings in The Middleby Co. (NASDAQ:MIDD)

Vanguard Group Inc. boosted its stake in The Middleby Co. (NASDAQ:MIDD) by 0.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,260,935 shares of the industrial products company’s stock after buying an additional 21,771 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Middleby worth $712,594,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MIDD. KLP Kapitalforvaltning AS purchased a new stake in shares of Middleby in the fourth quarter valued at $1,490,000. Sei Investments Co. raised its stake in Middleby by 3.7% in the 4th quarter. Sei Investments Co. now owns 654,641 shares of the industrial products company’s stock valued at $88,671,000 after purchasing an additional 23,577 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Middleby by 20.9% in the 4th quarter. Teacher Retirement System of Texas now owns 10,269 shares of the industrial products company’s stock valued at $1,391,000 after purchasing an additional 1,773 shares in the last quarter. Xponance Inc. boosted its stake in shares of Middleby by 6.0% during the 4th quarter. Xponance Inc. now owns 6,124 shares of the industrial products company’s stock worth $829,000 after purchasing an additional 348 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Middleby by 2.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,472 shares of the industrial products company’s stock worth $470,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Performance

Middleby stock opened at $152.76 on Monday. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 21.07 and a beta of 1.72. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $182.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The stock’s 50-day moving average is $161.29 and its 200-day moving average is $146.16.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.50 by $0.38. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $996.69 million. During the same quarter last year, the firm posted $2.65 earnings per share. Middleby’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts anticipate that The Middleby Co. will post 9.11 earnings per share for the current year.

Insider Activity at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the transaction, the director now directly owns 6,111 shares of the company’s stock, valued at $999,209.61. This trade represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating and set a $160.00 target price (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Robert W. Baird lifted their price objective on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. lifted their price target on Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. Finally, Barclays increased their price objective on shares of Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $180.86.

Middleby Profile

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.