Hunter Perkins Capital Management LLC Has $8.54 Million Stock Position in The Middleby Co. (NASDAQ:MIDD)

Hunter Perkins Capital Management LLC grew its stake in The Middleby Co. (NASDAQ:MIDD) by 25.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,075 shares of the industrial products company’s stock after purchasing an additional 12,905 shares during the period. Middleby makes up approximately 1.8% of Hunter Perkins Capital Management LLC’s holdings, making the stock its 19th largest holding. Hunter Perkins Capital Management LLC owned approximately 0.12% of Middleby worth $8,544,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MIDD. Assenagon Asset Management S.A. boosted its position in Middleby by 4,494.8% in 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 in the last quarter. Pacer Advisors Inc. boosted its holdings 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 acquiring an additional 171,634 shares in the last quarter. Geode Capital Management LLC increased its holdings in Middleby by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 936,596 shares of the industrial products company’s stock valued at $130,341,000 after purchasing an additional 8,926 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Middleby by 0.8% during the 3rd 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 in the last quarter. Finally, Oldfield Partners LLP raised its position in Middleby by 1.5% in the 3rd quarter. Oldfield Partners LLP now owns 332,473 shares of the industrial products company’s stock valued at $46,257,000 after purchasing an additional 4,837 shares during the last quarter. 98.55% of the stock is owned by institutional investors and hedge funds.

Middleby Stock Up 16.5 %

Shares of NASDAQ:MIDD opened at $169.72 on Monday. The company has a 50 day moving average of $139.56 and a 200-day moving average of $137.45. The Middleby Co. has a one year low of $118.41 and a one year high of $169.92. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 23.41 and a beta of 1.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

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 business had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. During the same quarter in the previous year, the firm posted $2.35 EPS. The business’s revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts forecast that The Middleby Co. will post 9.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Jefferies Financial Group restated a “hold” rating and set a $160.00 target price (down previously from $170.00) on shares of Middleby in a report on Thursday, December 12th. Canaccord Genuity Group reissued a “buy” rating and set a $155.00 price objective on shares of Middleby in a report on Friday, December 20th. Finally, StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $154.67.

About Middleby

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.