First Horizon Advisors Inc. Lowers Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

First Horizon Advisors Inc. decreased its position in shares of The Middleby Co. (NASDAQ:MIDD) by 22.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 253 shares of the industrial products company’s stock after selling 72 shares during the quarter. First Horizon Advisors Inc.’s holdings in Middleby were worth $34,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Covestor Ltd lifted its stake in shares of 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 in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after buying an additional 287 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Middleby by 41.1% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Middleby during the 3rd quarter valued at $72,000. Finally, Principal Securities Inc. lifted its stake in Middleby by 16.0% in the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on MIDD shares. Canaccord Genuity Group boosted their price target on shares of Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price target (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Barclays boosted their price target on shares of Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday. Robert W. Baird boosted their price target on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, KeyCorp boosted their price target on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Middleby has an average rating of “Hold” and a consensus price target of $180.86.

Middleby Stock Down 1.3 %

Shares of NASDAQ MIDD opened at $163.25 on Friday. The firm’s 50-day moving average price is $152.97 and its 200-day moving average price is $143.29. 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 stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 22.52 and a beta of 1.64. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $182.73.

Middleby (NASDAQ:MIDD) last announced its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 10.14% and a return on equity of 14.66%. The business’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.65 EPS. On average, equities research analysts anticipate that The Middleby Co. will post 9.11 EPS for the current fiscal 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.