Albion Financial Group UT grew its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,179 shares of the industrial products company’s stock after acquiring an additional 40 shares during the period. Albion Financial Group UT’s holdings in The Middleby Corporation were worth $386,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MIDD. KBC Group NV grew its holdings in The Middleby Corporation by 121.1% during the 1st quarter. KBC Group NV now owns 6,552 shares of the industrial products company’s stock worth $894,000 after acquiring an additional 3,589 shares in the last quarter. Prudential Financial Inc. grew its holdings in The Middleby Corporation by 117.2% during the 1st quarter. Prudential Financial Inc. now owns 8,340 shares of the industrial products company’s stock worth $1,138,000 after acquiring an additional 4,500 shares in the last quarter. Stifel Financial Corp grew its holdings in The Middleby Corporation by 1.1% during the 1st quarter. Stifel Financial Corp now owns 7,289 shares of the industrial products company’s stock worth $1,001,000 after acquiring an additional 81 shares in the last quarter. SG Americas Securities LLC acquired a new position in The Middleby Corporation during the 1st quarter worth $306,000. Finally, AXA grew its holdings in The Middleby Corporation by 55.4% during the 1st quarter. AXA now owns 8,324 shares of the industrial products company’s stock worth $1,136,000 after acquiring an additional 2,966 shares in the last quarter. 95.22% of the stock is owned by institutional investors.
Several research analysts have weighed in on MIDD shares. BidaskClub lowered shares of The Middleby Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. BMO Capital Markets reissued a “buy” rating and set a $150.00 price objective (down from $155.00) on shares of The Middleby Corporation in a report on Friday, June 23rd. Seaport Global Securities initiated coverage on shares of The Middleby Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $128.00 price target for the company. Zacks Investment Research lowered shares of The Middleby Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Wellington Shields raised shares of The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $142.50.
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In other news, Director John R. Miller III sold 8,500 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $118.50, for a total value of $1,007,250.00. Following the completion of the transaction, the director now owns 16,000 shares in the company, valued at approximately $1,896,000. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gordon Obrien sold 5,600 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $121.41, for a total transaction of $679,896.00. Following the completion of the transaction, the director now owns 11,050 shares of the company’s stock, valued at approximately $1,341,580.50. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
The Middleby Corporation (NASDAQ MIDD) traded up 0.08% on Thursday, hitting $123.65. 128,537 shares of the stock traded hands. The Middleby Corporation has a 12-month low of $108.45 and a 12-month high of $150.87. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 23.16 and a beta of 1.82. The stock has a 50-day moving average of $122.57 and a 200-day moving average of $127.94.
The Middleby Corporation (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. The company had revenue of $579.34 million during the quarter, compared to analysts’ expectations of $587.49 million. Analysts forecast that The Middleby Corporation will post $5.59 earnings per share for the current year.
About The Middleby Corporation
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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