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

Burney Co. lessened its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 58,147 shares of the industrial products company’s stock after selling 4,257 shares during the quarter. Burney Co. owned approximately 0.11% of Middleby worth $7,876,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Select Equity Group L.P. grew its position in Middleby by 15.4% during the 2nd quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock worth $779,835,000 after acquiring an additional 846,884 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings 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 purchasing an additional 1,238,767 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Middleby by 17.7% in the third quarter. Pacer Advisors Inc. now owns 1,138,999 shares of the industrial products company’s stock valued at $158,469,000 after buying an additional 171,634 shares during the period. Geode Capital Management LLC raised its holdings in Middleby by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 936,596 shares of the industrial products company’s stock valued at $130,341,000 after buying an additional 8,926 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Middleby by 43.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company’s stock worth $110,768,000 after buying an additional 274,513 shares during the period. 98.55% of the stock is currently owned by institutional investors.

Middleby Stock Performance

MIDD stock opened at $141.99 on Wednesday. The Middleby Co. has a 1-year low of $118.41 and a 1-year high of $161.01. 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 50-day moving average price of $138.36 and a 200-day moving average price 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.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The business had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. Middleby’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.35 earnings per share. As a group, equities research analysts expect that The Middleby Co. will post 9.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed 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 upgraded Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $154.67.

Middleby 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.