Proficio Capital Partners LLC Acquires Shares of 16,525 The Middleby Co. (NASDAQ:MIDD)

Proficio Capital Partners LLC acquired a new position in The Middleby Co. (NASDAQ:MIDD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,525 shares of the industrial products company's stock, valued at approximately $2,238,000.

Several other institutional investors also recently modified their holdings of MIDD. Avior Wealth Management LLC grew its stake in shares of Middleby by 820.0% in 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. boosted 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 acquiring an additional 116 shares during the last quarter. Principal Securities Inc. boosted its position in Middleby by 16.0% during the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock valued at $77,000 after acquiring an additional 78 shares during the last quarter. GAMMA Investing LLC boosted its position in Middleby by 27.2% during the fourth quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company's stock valued at $84,000 after acquiring an additional 133 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Middleby during the third quarter valued at $88,000. Institutional investors own 98.55% of the company's stock.

Middleby Stock Up 0.3 %

Shares of NASDAQ MIDD traded up $0.48 during trading on Friday, hitting $154.41. 1,956,109 shares of the company traded hands, compared to its average volume of 603,286. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $182.73. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 21.30 and a beta of 1.72. The business's fifty day moving average is $159.67 and its 200 day moving average is $145.17.

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Middleby (NASDAQ:MIDD - Get Free Report) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping 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 company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $996.69 million. During the same quarter in the prior year, the business posted $2.65 EPS. The firm's revenue was up .4% compared to the same quarter last year. Equities research analysts predict that The Middleby Co. will post 9.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on MIDD shares. StockNews.com cut shares of Middleby from a "buy" rating to a "hold" rating in a research report on Monday, January 27th. Jefferies Financial Group reaffirmed a "hold" rating and set a $160.00 price target (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. KeyCorp upped their price target on shares of Middleby from $160.00 to $185.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. upped 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. Finally, Barclays upped their price target on shares of Middleby from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Middleby currently has a consensus rating of "Hold" and a consensus target price of $180.86.

Insider Buying and Selling

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

Middleby Company 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.