Mirae Asset Global Investments Co. Ltd. Sells 132 Shares of The Middleby Co. (NASDAQ:MIDD)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373 shares of the industrial products company’s stock after selling 132 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Middleby were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MIDD. Covestor Ltd increased its position in 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 acquiring an additional 190 shares during the last quarter. Avior Wealth Management LLC lifted its stake in Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 287 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Middleby by 41.1% during the fourth 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. GAMMA Investing LLC lifted its stake in shares of Middleby by 27.2% during the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 133 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Middleby in the 3rd quarter valued at $88,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a research note on Monday, January 27th. StockNews.com lowered shares of Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. KeyCorp raised their target price on shares of Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Robert W. Baird upped their price target on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Middleby from $134.00 to $145.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Middleby has an average rating of “Hold” and an average price target of $178.83.

Middleby Stock Up 0.8 %

Shares of Middleby stock opened at $168.33 on Friday. The Middleby Co. has a 52-week low of $118.41 and a 52-week high of $177.90. The firm’s 50 day moving average price is $147.73 and its 200-day moving average price is $141.42. 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 company has a market cap of $9.05 billion, a P/E ratio of 23.22 and a beta of 1.64.

Middleby 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.