Envestnet Portfolio Solutions Inc. Purchases 95 Shares of The Middleby Co. (NASDAQ:MIDD)

Envestnet Portfolio Solutions Inc. lifted its position in shares of The Middleby Co. (NASDAQ:MIDD) by 2.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,472 shares of the industrial products company’s stock after buying an additional 95 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Middleby were worth $470,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Middleby by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 344,391 shares of the industrial products company’s stock worth $47,915,000 after purchasing an additional 2,676 shares during the last quarter. Cerity Partners LLC increased its holdings in Middleby by 30.0% in the 3rd quarter. Cerity Partners LLC now owns 13,625 shares of the industrial products company’s stock worth $1,896,000 after buying an additional 3,143 shares in the last quarter. Quantbot Technologies LP purchased a new position in Middleby in the 3rd quarter worth about $1,145,000. Millrace Asset Group Inc. bought a new position in Middleby during the 3rd quarter valued at about $1,368,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Middleby during the 3rd quarter valued at about $130,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MIDD. Jefferies Financial Group restated a “hold” rating and set a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Canaccord Genuity Group increased their price target on Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a report on Wednesday, February 26th. Robert W. Baird increased 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. Finally, Barclays boosted their price target on Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $180.86.

Insider Transactions at Middleby

In related news, Director Chapin Sarah Palisi sold 500 shares of the business’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 sale, the director now directly owns 6,111 shares in the company, valued at approximately $999,209.61. The trade was a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.16% of the company’s stock.

Middleby Stock Down 1.2 %

NASDAQ MIDD opened at $156.65 on Wednesday. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $182.73. 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 company has a market capitalization of $8.40 billion, a P/E ratio of 21.61 and a beta of 1.72. The stock’s 50-day moving average price is $160.45 and its 200-day moving average price is $145.62.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data 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 the consensus estimate of $996.69 million. During the same period last year, the firm earned $2.65 EPS. The company’s revenue was up .4% on a year-over-year basis. On average, equities research analysts predict that The Middleby Co. will post 9.11 earnings per share for the current year.

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.