Jones Financial Companies Lllp Acquires 565 Shares of The Middleby Co. (NASDAQ:MIDD)

Jones Financial Companies Lllp boosted its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 286.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 762 shares of the industrial products company’s stock after acquiring an additional 565 shares during the quarter. Jones Financial Companies Lllp’s holdings in Middleby were worth $103,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MIDD. Covestor Ltd grew its stake 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 purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Middleby by 820.0% during the third 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 last quarter. UMB Bank n.a. boosted its position in Middleby by 41.1% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock valued at $54,000 after buying an additional 116 shares during the last quarter. Principal Securities Inc. boosted its position in 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 last quarter. Finally, GAMMA Investing LLC boosted its position in Middleby by 27.2% in the 4th 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. Institutional investors own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. KeyCorp raised their price target on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Canaccord Genuity Group lifted their price target on shares of Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on shares of Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. Barclays upped their target price on shares of Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Robert W. Baird lifted their price objective on Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Middleby has a consensus rating of “Hold” and an average price target of $180.86.

Insider Buying and Selling at Middleby

In other news, Director Chapin Sarah Palisi sold 500 shares of the business’s 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 sale, the director now directly owns 6,111 shares in the company, valued at $999,209.61. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.17% of the company’s stock.

Middleby Stock Performance

MIDD stock opened at $151.67 on Friday. The business’s 50-day moving average price is $157.71 and its two-hundred day moving average price is $144.72. 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 market cap of $8.13 billion, a PE ratio of 20.92 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.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data 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. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $996.69 million. During the same quarter in the previous year, the business posted $2.65 EPS. Middleby’s revenue for the quarter was up .4% on a year-over-year basis. As a group, research analysts forecast that The Middleby Co. will post 9.11 earnings per share for the current year.

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.