AlphaQuest LLC Decreases Stake in The Middleby Co. (NASDAQ:MIDD)

AlphaQuest LLC reduced its stake in The Middleby Co. (NASDAQ:MIDD - Free Report) by 90.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 658 shares of the industrial products company's stock after selling 6,470 shares during the period. AlphaQuest LLC's holdings in Middleby were worth $89,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Avior Wealth Management LLC increased its stake in Middleby by 820.0% in the 3rd 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 period. UMB Bank n.a. increased its stake in Middleby by 41.1% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock worth $54,000 after purchasing an additional 116 shares during the period. Principal Securities Inc. increased its stake in Middleby by 16.0% in the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock worth $77,000 after purchasing an additional 78 shares during the period. GAMMA Investing LLC increased its stake in Middleby by 27.2% in the 4th 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 period. Finally, Neo Ivy Capital Management purchased a new position in Middleby in the 3rd quarter worth approximately $88,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MIDD has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Jefferies Financial Group reiterated a "hold" rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. KeyCorp lifted their price objective on Middleby from $160.00 to $185.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 26th. Finally, Robert W. Baird lifted their price objective on Middleby from $157.00 to $227.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $180.86.

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Insider Buying and Selling at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of Middleby stock in a transaction 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 transaction, the director now owns 6,111 shares in the company, valued at approximately $999,209.61. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.16% of the stock is owned by company insiders.

Middleby Stock Up 0.3 %

Shares of NASDAQ MIDD traded up $0.48 during mid-day trading on Friday, hitting $154.41. 1,956,109 shares of the stock 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 52 week low of $118.41 and a 52 week high of $182.73. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 21.30 and a beta of 1.72. The stock has a fifty day moving average price of $159.67 and a 200-day moving average price of $145.17.

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 for the quarter, beating the consensus estimate 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 previous year, the company posted $2.65 earnings per share. The firm's revenue was up .4% on a year-over-year basis. Research analysts anticipate that The Middleby Co. will post 9.11 EPS for the current year.

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.