The Middleby Co. (NASDAQ:MIDD) Shares Acquired by South Dakota Investment Council

South Dakota Investment Council raised its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 20,167 shares of the industrial products company’s stock after purchasing an additional 548 shares during the quarter. South Dakota Investment Council’s holdings in Middleby were worth $2,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. increased its stake in Middleby by 218.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 21,842 shares of the industrial products company’s stock valued at $3,214,000 after purchasing an additional 14,991 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Middleby by 13.3% in the fourth quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company’s stock worth $251,621,000 after acquiring an additional 198,859 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Middleby by 54.3% in the third quarter. Envestnet Asset Management Inc. now owns 38,356 shares of the industrial products company’s stock worth $4,910,000 after acquiring an additional 13,493 shares during the period. Hudson Bay Capital Management LP increased its stake in shares of Middleby by 28.5% in the third quarter. Hudson Bay Capital Management LP now owns 56,712 shares of the industrial products company’s stock worth $7,259,000 after acquiring an additional 12,589 shares during the period. Finally, Cardinal Capital Management increased its stake in shares of Middleby by 2.2% in the fourth quarter. Cardinal Capital Management now owns 5,728 shares of the industrial products company’s stock worth $843,000 after acquiring an additional 124 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Insider Transactions at Middleby

In other news, Director Cathy L. Mccarthy sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total value of $153,120.00. Following the transaction, the director now directly owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Middleby news, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total transaction of $53,014.50. Following the completion of the sale, the director now directly owns 6,306 shares in the company, valued at $955,169.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cathy L. Mccarthy sold 1,000 shares of Middleby stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total transaction of $153,120.00. Following the sale, the director now owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The disclosure for this sale can be found here. Insiders own 1.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. TheStreet upgraded shares of Middleby from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Finally, Jefferies Financial Group increased their price objective on shares of Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.38.

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $144.69 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 2.31. The company has a market capitalization of $7.76 billion, a PE ratio of 19.53 and a beta of 1.56. The Middleby Co. has a 1 year low of $109.59 and a 1 year high of $161.01. The company’s fifty day moving average price is $151.16 and its 200 day moving average price is $139.06.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.21. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. Middleby had a net margin of 9.93% and a return on equity of 16.99%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $2.57 earnings per share. On average, research analysts predict that The Middleby Co. will post 10.32 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.