FMR LLC bought a new position in The Middleby Corporation (NASDAQ:MIDD) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 95,560 shares of the industrial products company’s stock, valued at approximately $13,039,000. FMR LLC owned 0.17% of The Middleby Corporation at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. YorkBridge Wealth Partners LLC increased its position in shares of The Middleby Corporation by 14.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 728 shares of the industrial products company’s stock worth $102,000 after buying an additional 90 shares during the period. Van ECK Associates Corp boosted its stake in The Middleby Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 780 shares of the industrial products company’s stock worth $106,000 after buying an additional 56 shares in the last quarter. Advisory Services Network LLC purchased a new stake in The Middleby Corporation during the first quarter worth $125,000. Bronfman E.L. Rothschild L.P. boosted its stake in The Middleby Corporation by 0.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,029 shares of the industrial products company’s stock worth $140,000 after buying an additional 9 shares in the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in The Middleby Corporation during the first quarter worth $149,000. 95.63% of the stock is owned by institutional investors and hedge funds.
Shares of The Middleby Corporation (NASDAQ MIDD) opened at 126.77 on Thursday. The firm’s 50-day moving average price is $125.73 and its 200-day moving average price is $132.90. The firm has a market cap of $7.29 billion, a PE ratio of 24.10 and a beta of 1.82. The Middleby Corporation has a one year low of $108.45 and a one year high of $150.87.
The Middleby Corporation (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.12. The company had revenue of $530.30 million for the quarter, compared to analysts’ expectations of $542.50 million. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%. Equities research analysts expect that The Middleby Corporation will post $5.67 earnings per share for the current fiscal year.
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A number of equities research analysts recently weighed in on the company. BidaskClub upgraded The Middleby Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a report on Tuesday, July 18th. Seaport Global Securities assumed coverage on The Middleby Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $128.00 price target on the stock. BMO Capital Markets restated a “buy” rating and issued a $150.00 price target (down previously from $155.00) on shares of The Middleby Corporation in a report on Friday, June 23rd. Finally, Wellington Shields upgraded The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $141.67.
The Middleby Corporation Company Profile
The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.
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