The Middleby Co. (NASDAQ:MIDD) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in The Middleby Co. (NASDAQ:MIDD - Free Report) by 9.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,966 shares of the industrial products company's stock after selling 10,696 shares during the period. Envestnet Asset Management Inc. owned approximately 0.19% of Middleby worth $14,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MIDD. UMB Bank n.a. boosted its holdings in Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 116 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Middleby by 16.0% in the 4th 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 during the period. GAMMA Investing LLC boosted its stake in shares of Middleby by 27.2% in the fourth quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company's stock worth $84,000 after buying an additional 133 shares during the last quarter. Crewe Advisors LLC grew its holdings in Middleby by 73.2% during the fourth quarter. Crewe Advisors LLC now owns 710 shares of the industrial products company's stock worth $96,000 after acquiring an additional 300 shares during the period. Finally, Jones Financial Companies Lllp raised its position in Middleby by 286.8% during the fourth quarter. Jones Financial Companies Lllp now owns 762 shares of the industrial products company's stock valued at $103,000 after acquiring an additional 565 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company's stock.

Insider Transactions at Middleby

In other 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 value of $81,755.00. Following the completion of the sale, the director now directly owns 6,111 shares in the company, valued at $999,209.61. This represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.18% of the company's stock.

Middleby Price Performance

NASDAQ:MIDD traded up $3.43 during trading hours on Tuesday, hitting $127.44. 1,038,592 shares of the stock were exchanged, compared to its average volume of 677,770. The company has a market cap of $6.84 billion, a P/E ratio of 17.58 and a beta of 1.44. The firm's fifty day moving average price is $150.48 and its 200 day moving average price is $145.59. The Middleby Co. has a 52-week low of $118.41 and a 52-week high of $182.73. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating the consensus estimate 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 return on equity of 14.66% and a net margin of 10.14%. The firm's revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.65 EPS. As a group, equities research analysts anticipate that The Middleby Co. will post 9.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MIDD shares. Robert W. Baird raised their price objective on shares of 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. Barclays upped their price objective on shares of Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group raised their target price on Middleby from $192.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their price target on Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $179.43.

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.