Aviso Financial Inc. Buys 9,180 Shares of The Middleby Co. (NASDAQ:MIDD)

Aviso Financial Inc. grew its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 317,036 shares of the industrial products company’s stock after acquiring an additional 9,180 shares during the period. Middleby accounts for about 2.2% of Aviso Financial Inc.’s investment portfolio, making the stock its 16th biggest holding. Aviso Financial Inc.’s holdings in Middleby were worth $42,943,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Covestor Ltd increased its position in shares of Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC increased its position 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. increased its position in shares of Middleby by 41.1% in the 4th 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 period. Principal Securities Inc. increased its position in shares of 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 during the period. 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. Institutional investors own 98.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MIDD shares. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 target price (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Barclays upped their target price on Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. KeyCorp increased their price target on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Canaccord Genuity Group increased their price target on Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price target on Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Middleby has a consensus rating of “Hold” and an average price target of $180.86.

Insider Activity

In related news, Director Chapin Sarah Palisi sold 500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $163.51, for a total value of $81,755.00. Following the transaction, the director now directly owns 6,111 shares of the company’s stock, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.17% of the company’s stock.

Middleby Price Performance

NASDAQ:MIDD opened at $147.69 on Friday. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $182.73. 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 capitalization of $7.92 billion, a PE ratio of 20.37 and a beta of 1.72. The stock’s 50-day moving average price is $157.09 and its 200-day moving average price is $144.60.

Middleby (NASDAQ:MIDD) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating 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 analysts’ expectations of $996.69 million. During the same period last year, the firm earned $2.65 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities analysts expect that The Middleby Co. will post 9.11 EPS for the current fiscal year.

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.