ArrowMark Colorado Holdings LLC Increases Stock Position in The Middleby Co. (NASDAQ:MIDD)

ArrowMark Colorado Holdings LLC boosted its holdings in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 473,881 shares of the industrial products company's stock after purchasing an additional 24,837 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.88% of Middleby worth $64,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MIDD. Vanguard Group Inc. grew its holdings in Middleby by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,260,935 shares of the industrial products company's stock worth $712,594,000 after acquiring an additional 21,771 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Middleby by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,895,553 shares of the industrial products company's stock worth $256,753,000 after purchasing an additional 35,449 shares in the last quarter. Earnest Partners LLC lifted its holdings in Middleby by 3.8% in the 4th quarter. Earnest Partners LLC now owns 1,311,966 shares of the industrial products company's stock valued at $177,706,000 after purchasing an additional 47,443 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings 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 purchasing an additional 1,238,767 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Middleby by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,247,671 shares of the industrial products company's stock valued at $169,000,000 after buying an additional 150,709 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Middleby

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. Insiders own 6.18% of the company's stock.

Middleby Stock Up 3.0 %

Shares of NASDAQ MIDD traded up $3.97 during mid-day trading on Thursday, reaching $135.60. The company had a trading volume of 471,276 shares, compared to its average volume of 888,910. The Middleby Co. has a 52-week low of $118.41 and a 52-week high of $182.73. The stock has a market cap of $7.27 billion, a P/E ratio of 18.70 and a beta of 1.65. 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 firm has a 50 day simple moving average of $142.83 and a two-hundred day simple moving average of $145.32.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.14. The business had revenue of $906.63 million for the quarter, compared to analysts' expectations of $941.46 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business's revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Sell-side analysts predict that The Middleby Co. will post 9.11 earnings per share for the current year.

Analyst Ratings Changes

MIDD has been the topic of a number of research analyst reports. Robert W. Baird cut their target price on Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a research report on Thursday. Barclays increased their target price on Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group cut their price target on shares of Middleby from $200.00 to $186.00 and set a "buy" rating on the stock in a research note on Thursday. KeyCorp lowered their price objective on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. upped 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $168.14.

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.