Janney Montgomery Scott LLC Buys Shares of 3,465 The Middleby Co. (NASDAQ:MIDD)

Janney Montgomery Scott LLC bought a new stake in The Middleby Co. (NASDAQ:MIDD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,465 shares of the industrial products company’s stock, valued at approximately $469,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Covestor Ltd raised its stake in shares of 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 acquiring an additional 190 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 136 shares during the last quarter. Avior Wealth Management LLC raised its stake in shares of Middleby by 820.0% during the third 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 last quarter. GAMMA Investing LLC raised its stake in shares of Middleby by 91.8% during the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 234 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Middleby during the third quarter valued at $72,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Performance

NASDAQ MIDD opened at $164.87 on Monday. The company’s 50 day moving average is $145.35 and its 200-day moving average is $140.35. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $177.90. 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 firm has a market cap of $8.87 billion, a P/E ratio of 22.74 and a beta of 1.64.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MIDD shares. KeyCorp lifted their target price on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Jefferies Financial Group reissued a “hold” rating and set a $160.00 target price (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Robert W. Baird lifted their target price on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Canaccord Genuity Group lifted their target price on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Middleby from $134.00 to $145.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $178.83.

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.