The Middleby Co. (NASDAQ:MIDD) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. lifted its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 111.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,217 shares of the industrial products company’s stock after buying an additional 2,219 shares during the quarter. Blue Trust Inc.’s holdings in Middleby were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in MIDD. Assenagon Asset Management S.A. grew its position in shares of Middleby by 4,494.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock worth $171,524,000 after buying an additional 1,238,767 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Middleby by 17.7% during the third quarter. Pacer Advisors Inc. now owns 1,138,999 shares of the industrial products company’s stock worth $158,469,000 after buying an additional 171,634 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Middleby by 275.2% during the third quarter. New York State Common Retirement Fund now owns 185,885 shares of the industrial products company’s stock worth $25,862,000 after buying an additional 136,345 shares in the last quarter. Natixis Advisors LLC acquired a new stake in shares of Middleby during the third quarter worth approximately $10,928,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Middleby during the third quarter worth approximately $4,486,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Performance

MIDD stock opened at $168.33 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 23.22 and a beta of 1.64. The Middleby Co. has a 1 year low of $118.41 and a 1 year high of $177.90. The stock’s fifty day moving average is $147.73 and its two-hundred day moving average is $141.50.

Analyst Upgrades and Downgrades

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