Sei Investments Co. Has $88.67 Million Holdings in The Middleby Co. (NASDAQ:MIDD)

Sei Investments Co. grew its holdings in The Middleby Co. (NASDAQ:MIDD) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 654,641 shares of the industrial products company’s stock after purchasing an additional 23,577 shares during the period. Sei Investments Co. owned about 1.22% of Middleby worth $88,671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MIDD. CIBC Asset Management Inc acquired a new stake in shares of Middleby in the third quarter valued at approximately $218,000. Caprock Group LLC acquired a new stake in shares of Middleby in the third quarter valued at approximately $211,000. Avior Wealth Management LLC raised its holdings in shares of Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 287 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Middleby in the third quarter valued at approximately $306,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Middleby by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 344,391 shares of the industrial products company’s stock valued at $47,915,000 after purchasing an additional 2,676 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Chapin Sarah Palisi sold 500 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the sale, the director now owns 6,111 shares of the company’s stock, valued at $999,209.61. This represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.16% of the stock is currently owned by company insiders.

Middleby Trading Up 0.3 %

Shares of Middleby stock opened at $154.41 on Friday. The firm has a 50-day moving average of $159.67 and a 200-day moving average of $145.22. The stock has a market cap of $8.28 billion, a PE ratio of 21.30 and a beta of 1.72. The Middleby Co. has a 52-week low of $118.41 and a 52-week high of $182.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

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 analysts’ consensus estimates of $2.50 by $0.38. The company had revenue of $1.01 billion during 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%. Middleby’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.65 earnings per share. As a group, sell-side analysts forecast that The Middleby Co. will post 9.11 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MIDD shares. Barclays boosted their target price on shares of Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. StockNews.com downgraded shares of Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Jefferies Financial Group restated a “hold” rating and set a $160.00 target price (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. Robert W. Baird upped their price objective on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $180.86.

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.