PineStone Asset Management Inc. Sells 338,284 Shares of The Middleby Co. (NASDAQ:MIDD)

PineStone Asset Management Inc. decreased its position in shares of The Middleby Co. (NASDAQ:MIDD) by 93.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,941 shares of the industrial products company’s stock after selling 338,284 shares during the period. PineStone Asset Management Inc.’s holdings in Middleby were worth $3,378,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MIDD. Covestor Ltd raised its stake in Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Middleby by 820.0% in the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 287 shares during the period. UMB Bank n.a. lifted its position in Middleby by 41.1% during 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Middleby in the third quarter worth about $72,000. Finally, GAMMA Investing LLC increased its position in shares of Middleby by 27.2% in the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 133 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MIDD shares. Jefferies Financial Group restated a “hold” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Canaccord Genuity Group lifted their price target on Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on shares of Middleby from $134.00 to $145.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Robert W. Baird boosted their price target on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, KeyCorp raised their target price on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $178.83.

Middleby Stock Performance

NASDAQ MIDD opened at $168.33 on Friday. The business has a fifty day moving average of $147.73 and a 200-day moving average of $141.42. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 23.22 and a beta of 1.64. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $177.90.

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.