Sei Investments Co. Purchases 23,577 Shares of The Middleby Co. (NASDAQ:MIDD)

Sei Investments Co. increased its position in The Middleby Co. (NASDAQ:MIDD - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 654,641 shares of the industrial products company's stock after purchasing an additional 23,577 shares during the quarter. Sei Investments Co. owned approximately 1.22% of Middleby worth $88,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MIDD. Avior Wealth Management LLC increased its position in 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 buying an additional 287 shares in the last quarter. UMB Bank n.a. increased its stake in Middleby by 41.1% during the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock worth $54,000 after acquiring an additional 116 shares during the last quarter. Principal Securities Inc. lifted its position in Middleby by 16.0% in the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock worth $77,000 after buying an additional 78 shares during the last quarter. GAMMA Investing LLC lifted its stake in Middleby by 27.2% in the fourth quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company's stock worth $84,000 after purchasing an additional 133 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Middleby during the 3rd quarter valued at $88,000. Hedge funds and other institutional investors own 98.55% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a $160.00 price target (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. 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. Robert W. Baird upped their target price on Middleby from $157.00 to $227.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. KeyCorp lifted their price objective 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, StockNews.com upgraded Middleby from a "hold" rating to a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $180.86.

Middleby Stock Performance

Shares of MIDD stock traded up $0.61 on Thursday, hitting $157.13. 434,842 shares of the stock traded hands, compared to its average volume of 604,523. The company has a market capitalization of $8.43 billion, a PE ratio of 21.67 and a beta of 1.72. The company's fifty day moving average is $160.76 and its 200 day moving average is $145.70. 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 Middleby Co. has a 1-year low of $118.41 and a 1-year high of $182.73.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.38. The company 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 company's revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.65 earnings per share. On average, equities research analysts predict that The Middleby Co. will post 9.11 earnings per share for the current fiscal year.

Insider Transactions at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the company'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 value of $81,755.00. Following the completion of the transaction, the director now owns 6,111 shares of the company's stock, 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 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.