Epoch Investment Partners Inc. Lowers Stake in The Middleby Co. (NASDAQ:MIDD)

Epoch Investment Partners Inc. decreased its position in The Middleby Co. (NASDAQ:MIDD) by 10.9% during the fourth quarter, Holdings Channel reports. The firm owned 436,727 shares of the industrial products company’s stock after selling 53,325 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Middleby were worth $59,155,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Lorne Steinberg Wealth Management Inc. grew its stake in shares of Middleby by 0.3% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company’s stock valued at $3,323,000 after buying an additional 70 shares in the last quarter. Principal Securities Inc. grew its position in Middleby by 16.0% in the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 78 shares in the last quarter. CIBC Asset Management Inc increased its stake in Middleby by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company’s stock worth $224,000 after buying an additional 81 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Middleby by 1.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company’s stock worth $971,000 after acquiring an additional 81 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in Middleby by 2.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,472 shares of the industrial products company’s stock valued at $470,000 after purchasing an additional 95 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on MIDD shares. KeyCorp reduced their target price on shares of Middleby from $185.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. Canaccord Genuity Group boosted their target price on shares of Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. StockNews.com cut Middleby from a “buy” rating to a “hold” rating in a research note on Thursday, April 10th. Finally, Barclays upped their price objective on Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $179.43.

Middleby Stock Performance

Shares of MIDD stock opened at $126.91 on Friday. The stock’s 50-day moving average is $152.09 and its two-hundred day moving average is $145.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The Middleby Co. has a 1 year low of $118.41 and a 1 year high of $182.73. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 17.50 and a beta of 1.44.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.38. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $996.69 million. During the same quarter last year, the business posted $2.65 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. Analysts predict that The Middleby Co. will post 9.11 earnings per share for the current year.

Insider Activity at Middleby

In related news, Director Chapin Sarah Palisi sold 500 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the transaction, the director now owns 6,111 shares in the company, valued at $999,209.61. The trade was a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.18% of the stock is owned by insiders.

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.