Peak6 LLC Takes Position in The Middleby Co. (NASDAQ:MIDD)

Peak6 LLC bought a new position in shares of The Middleby Co. (NASDAQ:MIDD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,646 shares of the industrial products company’s stock, valued at approximately $2,119,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MIDD. MML Investors Services LLC acquired a new position in shares of Middleby in the 3rd quarter valued at $223,000. Virtu Financial LLC purchased a new stake in Middleby in the third quarter valued at $639,000. Sanctuary Advisors LLC acquired a new position in Middleby in the third quarter valued at $891,000. GAMMA Investing LLC grew its holdings in shares of Middleby by 27.2% during 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, Everence Capital Management Inc. acquired a new stake in shares of Middleby during the fourth quarter worth about $200,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Robert W. Baird raised their price target on Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. StockNews.com lowered shares of Middleby from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th. JPMorgan Chase & Co. upped their price target on shares of Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a research report on Wednesday, February 26th. KeyCorp lowered their price objective on shares of Middleby from $185.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Canaccord Genuity Group upped their target price on shares of Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $179.43.

Insider Buying and Selling

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $163.51, for a total transaction of $81,755.00. Following the sale, the director now directly owns 6,111 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. 6.18% of the stock is currently owned by corporate insiders.

Middleby Stock Down 0.4 %

MIDD stock opened at $126.91 on Friday. The Middleby Co. has a one year low of $118.41 and a one year high of $182.73. 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 fifty day moving average of $152.09 and a 200-day moving average of $145.63. The stock has a market capitalization of $6.81 billion, a PE ratio of 17.50 and a beta of 1.44.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.38. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.65 earnings per share. As a group, analysts expect that The Middleby Co. will post 9.11 EPS for the current year.

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.