The Middleby Co. (NASDAQ:MIDD) is Oldfield Partners LLP’s 3rd Largest Position

Oldfield Partners LLP reduced its position in The Middleby Co. (NASDAQ:MIDD) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 325,093 shares of the industrial products company’s stock after selling 7,380 shares during the period. Middleby makes up about 12.8% of Oldfield Partners LLP’s holdings, making the stock its 3rd biggest holding. Oldfield Partners LLP owned approximately 0.60% of Middleby worth $44,034,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Verdence Capital Advisors LLC raised its stake in Middleby by 4.0% during the third quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 88 shares during the period. Townsquare Capital LLC increased its stake in shares of Middleby by 1.4% in the third quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company’s stock valued at $871,000 after purchasing an additional 89 shares during the period. Assetmark Inc. boosted its holdings in shares of Middleby by 5.2% in the third quarter. Assetmark Inc. now owns 1,868 shares of the industrial products company’s stock valued at $260,000 after acquiring an additional 93 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 116 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Middleby by 133.3% in the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

Analysts Set New Price Targets

MIDD has been the subject of a number of research reports. KeyCorp raised their target price on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Canaccord Genuity Group increased their target price on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Robert W. Baird raised their price target on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Middleby has an average rating of “Hold” and an average price target of $174.67.

Middleby Trading Up 1.0 %

Shares of NASDAQ MIDD opened at $173.54 on Wednesday. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $177.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The firm has a market capitalization of $9.33 billion, a P/E ratio of 24.00 and a beta of 1.61. The company’s 50 day simple moving average is $140.98 and its 200 day simple moving average is $138.12.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. During the same period in the previous year, the company posted $2.35 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, analysts predict that The Middleby Co. will post 9.12 EPS for the current year.

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.