Amundi Has $50.04 Million Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

Amundi boosted its position in The Middleby Co. (NASDAQ:MIDD) by 43.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,854 shares of the industrial products company’s stock after buying an additional 112,855 shares during the period. Amundi owned approximately 0.69% of Middleby worth $50,037,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MIDD. Covestor Ltd increased its holdings in shares of Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 190 shares in the last quarter. Avior Wealth Management LLC grew its position in Middleby by 820.0% in the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 287 shares during the period. UMB Bank n.a. raised its holdings 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 buying an additional 116 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of Middleby by 16.0% in the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after buying an additional 78 shares in the last quarter. Finally, 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 valued at $84,000 after buying an additional 133 shares during the last quarter. 98.55% of the stock is owned by institutional investors and hedge funds.

Middleby Stock Down 2.0 %

Shares of NASDAQ:MIDD opened at $152.13 on Thursday. The company has a market capitalization of $8.16 billion, a PE ratio of 20.98 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. 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 business has a fifty day moving average price of $157.09 and a two-hundred day moving average price of $144.60.

Middleby (NASDAQ:MIDD) last posted 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. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.65 earnings per share. Analysts forecast that The Middleby Co. will post 9.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Barclays lifted their target price on Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Robert W. Baird raised their price objective on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $180.86.

Insider Buying and Selling

In related news, Director Chapin Sarah Palisi sold 500 shares of Middleby stock in a transaction dated 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 sale, the director now owns 6,111 shares of the company’s stock, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.17% of the stock is currently owned by 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.