Sei Investments Co. Has $88.67 Million Stake in The Middleby Co. (NASDAQ:MIDD)

Sei Investments Co. grew its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 3.7% in the 4th quarter, Holdings Channel reports. The fund owned 654,641 shares of the industrial products company’s stock after buying an additional 23,577 shares during the period. Sei Investments Co.’s holdings in Middleby were worth $88,671,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MIDD. CIBC Asset Management Inc acquired a new position in Middleby during the third quarter worth about $218,000. Caprock Group LLC acquired a new position in Middleby during the third quarter worth about $211,000. Avior Wealth Management LLC raised its stake in Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 287 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Middleby during the third quarter worth about $306,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Middleby by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 344,391 shares of the industrial products company’s stock valued at $47,915,000 after buying an additional 2,676 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Insiders Place Their Bets

In related news, Director Chapin Sarah Palisi sold 500 shares of the stock in a transaction 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 transaction, the director now directly owns 6,111 shares in the company, valued at $999,209.61. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.16% of the company’s stock.

Middleby Stock Performance

NASDAQ:MIDD opened at $154.41 on Friday. The company has a market capitalization of $8.28 billion, a PE ratio of 21.30 and a beta of 1.72. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $182.73. The company has a 50 day simple moving average of $159.67 and a two-hundred day simple moving average of $145.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.38. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.65 EPS. Research analysts anticipate that The Middleby Co. will post 9.11 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Canaccord Genuity Group upped their price objective on Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a research note on Wednesday, February 26th. Finally, Barclays upped their price objective on Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $180.86.

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.