Ieq Capital LLC Takes Position in The Middleby Co. (NASDAQ:MIDD)

Ieq Capital LLC bought a new position in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,907 shares of the industrial products company's stock, valued at approximately $258,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd raised its position in Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company's stock worth $35,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company's stock worth $45,000 after purchasing an additional 287 shares during the last quarter. UMB Bank n.a. lifted its position in Middleby by 41.1% during the fourth 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 during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Middleby in the third quarter valued at $72,000. Finally, Principal Securities Inc. boosted its holdings in Middleby by 16.0% in the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company's stock.

Insider Buying and Selling at Middleby

In other news, Director Chapin Sarah Palisi sold 500 shares of the business'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 transaction of $81,755.00. Following the transaction, the director now directly owns 6,111 shares in the company, valued at $999,209.61. The trade was a 7.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.16% of the stock is currently owned by insiders.

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Middleby Price Performance

NASDAQ:MIDD traded down $0.21 during trading hours on Tuesday, reaching $161.37. 248,856 shares of the company were exchanged, compared to its average volume of 577,320. The stock's 50-day moving average is $154.12 and its 200-day moving average is $143.76. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $182.73. The firm has a market cap of $8.65 billion, a PE ratio of 22.25 and a beta of 1.64. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its 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 business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business's revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.65 earnings per share. On average, sell-side analysts anticipate that The Middleby Co. will post 9.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. KeyCorp boosted their price objective on Middleby from $160.00 to $185.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Jefferies Financial Group restated a "hold" rating and issued a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Barclays raised their price objective on shares of Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group increased their price target on shares of Middleby from $192.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Middleby from $145.00 to $150.00 and gave the company an "underweight" rating in a research report on Wednesday, February 26th. One investment 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $180.86.

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.