Regents Gate Capital LLP Acquires Shares of 26,493 The Middleby Co. (NASDAQ:MIDD)

Regents Gate Capital LLP bought a new position in The Middleby Co. (NASDAQ:MIDD) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 26,493 shares of the industrial products company’s stock, valued at approximately $3,588,000. Middleby accounts for about 1.4% of Regents Gate Capital LLP’s holdings, making the stock its 26th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MIDD. Assenagon Asset Management S.A. raised its stake in 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 valued at $171,524,000 after buying an additional 1,238,767 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Middleby by 17.7% in the 3rd quarter. Pacer Advisors Inc. now owns 1,138,999 shares of the industrial products company’s stock worth $158,469,000 after purchasing an additional 171,634 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Middleby by 275.2% in the 3rd quarter. New York State Common Retirement Fund now owns 185,885 shares of the industrial products company’s stock worth $25,862,000 after purchasing an additional 136,345 shares in the last quarter. Natixis Advisors LLC purchased a new stake in Middleby during the 3rd quarter valued at about $10,928,000. Finally, Point72 Asset Management L.P. bought a new stake in Middleby during the 3rd quarter valued at about $4,486,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MIDD has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on shares of Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Canaccord Genuity Group upped their price objective on Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a research report on Monday, January 27th. StockNews.com lowered Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price target (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. Finally, KeyCorp increased their price objective on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $178.83.

Middleby Trading Down 1.3 %

Shares of NASDAQ:MIDD opened at $164.87 on Monday. The stock’s 50-day simple moving average is $145.35 and its two-hundred day simple moving average is $140.35. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 22.74 and a beta of 1.64. The Middleby Co. has a 52-week low of $118.41 and a 52-week high of $177.90. 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 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.