Rhumbline Advisers Grows Stake in The Middleby Co. (NASDAQ:MIDD)

Rhumbline Advisers lifted its holdings in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 147,109 shares of the industrial products company's stock after purchasing an additional 3,212 shares during the period. Rhumbline Advisers owned 0.27% of Middleby worth $19,926,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Covestor Ltd lifted its holdings in Middleby by 306.5% in the third quarter. Covestor Ltd now owns 252 shares of the industrial products company's stock valued at $35,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC lifted its holdings in Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company's stock valued at $45,000 after buying an additional 287 shares during the period. UMB Bank n.a. lifted its holdings in Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock valued at $54,000 after buying an additional 116 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Middleby in the third quarter valued at $72,000. Finally, GAMMA Investing LLC lifted its holdings in Middleby by 27.2% in the fourth quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company's stock valued at $84,000 after buying an additional 133 shares during the period. Institutional investors and hedge funds own 98.55% of the company's stock.

Middleby Stock Down 1.7 %

MIDD traded down $2.85 during midday trading on Friday, hitting $167.07. The company had a trading volume of 570,782 shares, compared to its average volume of 978,010. 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 stock's 50 day moving average price is $150.44 and its 200 day moving average price is $142.48. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 23.04 and a beta of 1.64. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $177.90.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MIDD shares. StockNews.com lowered shares of Middleby from a "buy" rating to a "hold" rating in a report on Monday, January 27th. Jefferies Financial Group restated a "hold" rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a report on Thursday, December 12th. Canaccord Genuity Group boosted their target price on shares of Middleby from $155.00 to $192.00 and gave the company a "buy" rating in a report on Monday, January 27th. KeyCorp lifted their price target on shares of Middleby from $160.00 to $185.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. Finally, Robert W. Baird lifted their price target on shares of Middleby from $157.00 to $227.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Middleby presently has an average rating of "Hold" and an average target price of $178.83.

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.