Advantage Alpha Capital Partners LP Has $7.12 Million Position in The Middleby Co. (NASDAQ:MIDD)

Advantage Alpha Capital Partners LP boosted its stake in The Middleby Co. (NASDAQ:MIDD - Free Report) by 14.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,540 shares of the industrial products company's stock after purchasing an additional 6,780 shares during the period. Middleby comprises approximately 1.7% of Advantage Alpha Capital Partners LP's investment portfolio, making the stock its 9th biggest position. Advantage Alpha Capital Partners LP owned approximately 0.10% of Middleby worth $7,117,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Assenagon Asset Management S.A. increased its stake in shares of Middleby by 4,494.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company's stock valued at $171,524,000 after buying an additional 1,238,767 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Middleby in the fourth quarter valued at approximately $26,930,000. Amundi increased its position in Middleby by 43.6% during the 4th quarter. Amundi now owns 371,854 shares of the industrial products company's stock valued at $50,037,000 after purchasing an additional 112,855 shares during the period. Raymond James Financial Inc. acquired a new stake in Middleby during the 4th quarter valued at approximately $11,312,000. Finally, Point72 Asset Management L.P. bought a new position in Middleby during the 3rd quarter worth approximately $4,486,000. 98.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a "hold" rating and set a $160.00 price objective (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. StockNews.com upgraded Middleby from a "hold" rating to a "buy" rating in a report on Tuesday. KeyCorp boosted their price objective on Middleby from $160.00 to $185.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. Robert W. Baird raised their target price on Middleby from $157.00 to $227.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Finally, Barclays lifted their target price on Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $180.86.

Remove Ads

Middleby Stock Down 2.8 %

MIDD stock traded down $4.37 during trading on Friday, reaching $152.76. 442,633 shares of the stock were exchanged, compared to its average volume of 616,799. The firm's 50 day moving average is $161.29 and its 200 day moving average is $145.93. The firm has a market cap of $8.19 billion, a P/E ratio of 21.07 and a beta of 1.72. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $182.73.

Middleby (NASDAQ:MIDD - Get Free Report) last issued 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 return on equity of 14.66% and a net margin of 10.14%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $996.69 million. During the same period in the prior year, the firm earned $2.65 earnings per share. Middleby's revenue for the quarter was up .4% on a year-over-year basis. As a group, research analysts forecast that The Middleby Co. will post 9.11 EPS for the current year.

Insider Buying and Selling at Middleby

In other Middleby 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 completion of the sale, the director now directly owns 6,111 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Insiders own 1.16% of the company's stock.

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.