The Middleby Co. (NASDAQ:MIDD) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. grew its holdings in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 349.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,443 shares of the industrial products company's stock after buying an additional 1,900 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Middleby were worth $331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Middleby by 0.3% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company's stock valued at $3,323,000 after acquiring an additional 70 shares in the last quarter. Principal Securities Inc. increased its stake in Middleby by 16.0% during the 4th 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 in the last quarter. CIBC Asset Management Inc raised its position in Middleby by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company's stock valued at $224,000 after acquiring an additional 81 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Middleby by 1.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company's stock worth $971,000 after acquiring an additional 81 shares during the period. Finally, Townsquare Capital LLC raised its holdings in Middleby by 1.4% in the 3rd quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company's stock worth $871,000 after purchasing an additional 89 shares during the period. 98.55% of the stock is owned by institutional investors.

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Middleby Stock Down 4.5 %

Shares of NASDAQ:MIDD traded down $6.34 on Friday, hitting $135.83. 799,396 shares of the company's stock were exchanged, compared to its average volume of 622,421. The firm's 50-day moving average is $161.82 and its 200 day moving average is $146.49. 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 company has a market capitalization of $7.28 billion, a PE ratio of 18.70 and a beta of 1.72. 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 issued its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.38. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $996.69 million. During the same quarter in the prior year, the business posted $2.65 EPS. The company's revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts predict that The Middleby Co. will post 9.11 EPS for the current year.

Insider Activity

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 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 $999,209.61. This represents a 7.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. StockNews.com cut Middleby from a "buy" rating to a "hold" rating in a research report on Wednesday. Robert W. Baird lifted their target price on shares of Middleby from $157.00 to $227.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. KeyCorp increased their price target on Middleby from $160.00 to $185.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $180.86.

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.