GAMMA Investing LLC Buys 133 Shares of The Middleby Co. (NASDAQ:MIDD)

GAMMA Investing LLC lifted its stake in The Middleby Co. (NASDAQ:MIDD) by 27.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 622 shares of the industrial products company’s stock after acquiring an additional 133 shares during the period. GAMMA Investing LLC’s holdings in Middleby were worth $84,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MIDD. Cornercap Investment Counsel Inc. purchased a new stake in shares of Middleby during the second quarter worth about $500,000. Westwood Holdings Group Inc. grew its position in Middleby by 11.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 96,482 shares of the industrial products company’s stock worth $11,830,000 after purchasing an additional 10,115 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in Middleby by 4,691.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 16,099 shares of the industrial products company’s stock valued at $1,974,000 after purchasing an additional 15,763 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Middleby by 35.2% in the second quarter. Epoch Investment Partners Inc. now owns 482,389 shares of the industrial products company’s stock worth $59,146,000 after buying an additional 125,675 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Middleby by 27.4% during the second quarter. Sei Investments Co. now owns 76,345 shares of the industrial products company’s stock worth $9,361,000 after buying an additional 16,432 shares during the period. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Middleby Trading Down 0.0 %

Shares of NASDAQ:MIDD opened at $134.50 on Friday. 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 Middleby Co. has a 12-month low of $118.41 and a 12-month high of $161.01. The business has a 50 day moving average of $138.31 and a two-hundred day moving average of $135.72. The company has a market capitalization of $7.24 billion, a PE ratio of 18.55 and a beta of 1.61.

Middleby (NASDAQ:MIDD) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same quarter in the prior year, the firm earned $2.35 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, analysts forecast that The Middleby Co. will post 9.13 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 target price (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and issued a $155.00 target price on shares of Middleby in a research report on Friday, December 20th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $164.00 price target on shares of Middleby in a research report on Saturday, September 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $154.67.

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.