Geode Capital Management LLC grew its position in shares of The Middleby Co. (NASDAQ:MIDD – Get Rating) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 769,893 shares of the industrial products company’s stock after purchasing an additional 35,327 shares during the period. Geode Capital Management LLC owned 1.43% of Middleby worth $103,088,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Middleby by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,673,798 shares of the industrial products company’s stock worth $359,112,000 after purchasing an additional 230,442 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Middleby by 5.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,826,029 shares of the industrial products company’s stock worth $299,359,000 after acquiring an additional 94,230 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Middleby by 23.4% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 1,764,287 shares of the industrial products company’s stock worth $226,130,000 after acquiring an additional 334,634 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Middleby by 3.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,298,617 shares of the industrial products company’s stock worth $166,444,000 after acquiring an additional 45,923 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Middleby by 3.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 579,188 shares of the industrial products company’s stock worth $77,553,000 after acquiring an additional 17,204 shares during the period. 98.48% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Chapin Sarah Palisi sold 250 shares of Middleby stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $140.94, for a total transaction of $35,235.00. Following the sale, the director now owns 7,256 shares in the company, valued at $1,022,660.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.16% of the company’s stock.
Middleby Trading Down 1.1 %
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Middleby in a report on Thursday, May 18th. They set a “hold” rating on the stock. Benchmark increased their price objective on shares of Middleby from $175.00 to $180.00 in a report on Monday, May 15th. Canaccord Genuity Group increased their price objective on shares of Middleby from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. BMO Capital Markets increased their price objective on shares of Middleby from $170.00 to $175.00 in a report on Monday, May 15th. Finally, KeyCorp raised their price target on shares of Middleby from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, February 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.63.
About Middleby
The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.
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