Arrowstreet Capital Limited Partnership Has $2.15 Million Position in The Middleby Co. (NASDAQ:MIDD)

Arrowstreet Capital Limited Partnership boosted its holdings in The Middleby Co. (NASDAQ:MIDD - Free Report) by 157.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,866 shares of the industrial products company's stock after purchasing an additional 9,713 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Middleby were worth $2,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Brown Brothers Harriman & Co. lifted its stake in shares of Middleby by 349.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,443 shares of the industrial products company's stock worth $331,000 after purchasing an additional 1,900 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Middleby during the 4th quarter valued at approximately $204,000. Pictet Asset Management Holding SA boosted its holdings in shares of Middleby by 1.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company's stock valued at $971,000 after buying an additional 81 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Middleby during the fourth quarter valued at approximately $257,000. Finally, Norges Bank acquired a new stake in Middleby in the fourth quarter worth $20,189,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MIDD has been the topic of a number of recent analyst reports. Barclays lifted their price target on Middleby from $160.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their price objective on shares of Middleby from $192.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. KeyCorp reduced their target price on Middleby from $185.00 to $175.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price objective on shares of Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 26th. Finally, StockNews.com cut Middleby from a "buy" rating to a "hold" rating in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $179.43.

Middleby Stock Down 1.2 %

Shares of MIDD stock traded down $1.53 on Wednesday, hitting $127.97. The company's stock had a trading volume of 67,922 shares, compared to its average volume of 662,616. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $182.73. The firm's fifty day moving average price is $154.36 and its 200-day moving average price is $145.92. 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 has a market capitalization of $6.86 billion, a price-to-earnings ratio of 17.65 and a beta of 1.44.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. During the same quarter last year, the firm posted $2.65 earnings per share. The company's quarterly revenue was up .4% compared to the same quarter last year. Research analysts anticipate that The Middleby Co. will post 9.11 EPS for the current year.

Insider Activity at Middleby

In related news, Director Chapin Sarah Palisi sold 500 shares of Middleby stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.18% of the stock is owned by corporate insiders.

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.