Alliancebernstein L.P. lifted its holdings in Middleby Corp (NASDAQ:MIDD) by 21.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,224 shares of the industrial products company’s stock after buying an additional 14,477 shares during the quarter. Alliancebernstein L.P.’s holdings in Middleby were worth $10,765,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in MIDD. EdgePoint Investment Group Inc. raised its holdings in shares of Middleby by 152.2% in the second quarter. EdgePoint Investment Group Inc. now owns 5,005,532 shares of the industrial products company’s stock valued at $522,678,000 after buying an additional 3,020,865 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Middleby by 29.1% in the second quarter. Janus Henderson Group PLC now owns 2,683,129 shares of the industrial products company’s stock valued at $280,172,000 after buying an additional 604,451 shares during the last quarter. Waddell & Reed Financial Inc. raised its holdings in shares of Middleby by 98.8% in the second quarter. Waddell & Reed Financial Inc. now owns 799,138 shares of the industrial products company’s stock valued at $83,446,000 after buying an additional 397,157 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Middleby in the third quarter valued at about $13,832,000. Finally, Tobam raised its holdings in shares of Middleby by 247.8% in the third quarter. Tobam now owns 84,105 shares of the industrial products company’s stock valued at $10,879,000 after buying an additional 59,925 shares during the last quarter.
A number of research analysts recently issued reports on MIDD shares. Zacks Investment Research cut Middleby from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Seaport Global Securities raised Middleby from a “neutral” rating to a “buy” rating in a report on Wednesday, November 14th. BidaskClub raised Middleby from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 27th. Citigroup lifted their price target on Middleby from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, August 15th. Finally, Buckingham Research raised Middleby from a “neutral” rating to a “buy” rating and lifted their price target for the company from $115.00 to $174.00 in a report on Monday, September 24th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $139.83.
Shares of NASDAQ:MIDD opened at $109.37 on Friday. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 17.75 and a beta of 1.88. Middleby Corp has a 1-year low of $98.06 and a 1-year high of $138.89. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.88 and a quick ratio of 0.99.
Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $1.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.01). The firm had revenue of $713.30 million for the quarter, compared to the consensus estimate of $731.46 million. Middleby had a return on equity of 22.14% and a net margin of 11.45%. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 earnings per share. As a group, sell-side analysts expect that Middleby Corp will post 5.99 EPS for the current year.
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Middleby Company Profile
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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