Crestline Management LP Takes Position in The Middleby Co. (NASDAQ:MIDD)

Crestline Management LP bought a new position in The Middleby Co. (NASDAQ:MIDD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,864 shares of the industrial products company's stock, valued at approximately $1,065,000.

A number of other institutional investors and hedge funds have also modified their holdings of MIDD. Lorne Steinberg Wealth Management Inc. grew its holdings in shares of Middleby by 0.3% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company's stock worth $3,323,000 after purchasing an additional 70 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock worth $77,000 after acquiring an additional 78 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Middleby by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company's stock valued at $224,000 after buying an additional 81 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Middleby by 1.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company's stock valued at $971,000 after purchasing an additional 81 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Middleby by 2.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,472 shares of the industrial products company's stock valued at $470,000 after acquiring an additional 95 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the transaction, the director now owns 6,111 shares of the company's stock, valued at approximately $999,209.61. This represents a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.18% of the stock is currently owned by insiders.

Middleby Price Performance

Shares of Middleby stock traded up $3.01 during mid-day trading on Tuesday, reaching $149.91. 1,607,226 shares of the stock traded hands, compared to its average volume of 713,535. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $141.74 and a 200 day moving average of $145.53. The stock has a market capitalization of $8.04 billion, a PE ratio of 20.68 and a beta of 1.65. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $182.73.

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

Analyst Ratings Changes

Several brokerages recently commented on MIDD. KeyCorp reduced their target price on Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded Middleby from a "buy" rating to a "hold" rating in a research note on Thursday, April 10th. JPMorgan Chase & Co. raised their target price on Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group lowered their price target on Middleby from $200.00 to $186.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Robert W. Baird decreased their price target on Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $168.14.

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.