The Middleby Co. (NASDAQ:MIDD) Shares Sold by PineStone Asset Management Inc.

PineStone Asset Management Inc. decreased its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 93.1% in the 4th quarter, Holdings Channel reports. The firm owned 24,941 shares of the industrial products company’s stock after selling 338,284 shares during the quarter. PineStone Asset Management Inc.’s holdings in Middleby were worth $3,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the stock. Covestor Ltd increased its stake in Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC lifted its stake in Middleby by 820.0% in the 3rd 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. UMB Bank n.a. increased its stake 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 period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Middleby in the third quarter worth $72,000. Finally, GAMMA Investing LLC lifted its holdings 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 valued at $84,000 after buying an additional 133 shares during the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Up 0.8 %

MIDD stock opened at $168.33 on Friday. The firm has a market capitalization of $9.05 billion, a PE ratio of 23.22 and a beta of 1.64. 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 Middleby Co. has a 1-year low of $118.41 and a 1-year high of $177.90. The business’s 50 day simple moving average is $147.73 and its 200 day simple moving average is $141.42.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MIDD. StockNews.com cut shares of Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Canaccord Genuity Group increased 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. Robert W. Baird increased their price objective on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their target price on Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $178.83.

About Middleby

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.