Burney Co. Has $7.88 Million Stock Position in The Middleby Co. (NASDAQ:MIDD)

Burney Co. lowered its position in The Middleby Co. (NASDAQ:MIDD) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,147 shares of the industrial products company’s stock after selling 4,257 shares during the period. Burney Co.’s holdings in Middleby were worth $7,876,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MIDD. Assenagon Asset Management S.A. lifted its holdings in shares of Middleby by 4,494.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock worth $171,524,000 after purchasing an additional 1,238,767 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Middleby by 11,853.1% during the second quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company’s stock worth $118,609,000 after buying an additional 959,272 shares during the last quarter. Select Equity Group L.P. lifted its stake in shares of Middleby by 15.4% in the second quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock valued at $779,835,000 after buying an additional 846,884 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Middleby by 43.7% during the second quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company’s stock valued at $110,768,000 after buying an additional 274,513 shares during the last quarter. Finally, Ariel Investments LLC increased its position in shares of Middleby by 58.0% during the second quarter. Ariel Investments LLC now owns 510,127 shares of the industrial products company’s stock worth $62,547,000 after acquiring an additional 187,304 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Performance

MIDD stock opened at $141.99 on Wednesday. The business has a 50 day moving average of $138.36 and a 200-day moving average of $135.89. The firm has a market cap of $7.64 billion, a PE ratio of 19.58 and a beta of 1.61. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $161.01. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD) last announced 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). The business had revenue of $942.81 million for the quarter, compared to analysts’ expectations of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 earnings per share. As a group, sell-side analysts expect that The Middleby Co. will post 9.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on MIDD. Jefferies Financial Group reiterated a “hold” rating and set a $160.00 price target (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $155.00 target price on shares of Middleby in a research report on Friday, December 20th. Finally, StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $154.67.

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.