Amundi lifted its stake in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 34.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 501,718 shares of the industrial products company's stock after purchasing an additional 129,864 shares during the quarter. Amundi owned 0.94% of Middleby worth $71,329,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC raised its stake in shares of Middleby by 7.4% during the 4th quarter. ProShare Advisors LLC now owns 2,517 shares of the industrial products company's stock valued at $341,000 after purchasing an additional 173 shares during the period. Garden Investment Management L.P. bought a new stake in shares of Middleby during the 4th quarter valued at $101,958,000. Sarasin & Partners LLP bought a new stake in shares of Middleby during the 1st quarter valued at $2,283,000. IMC Chicago LLC bought a new stake in shares of Middleby during the 1st quarter valued at $4,069,000. Finally, Two Sigma Investments LP bought a new stake in shares of Middleby during the 4th quarter valued at $1,621,000. 98.55% of the stock is currently owned by institutional investors.
Middleby Price Performance
Shares of Middleby stock opened at $144.43 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $7.32 billion, a PE ratio of 18.38 and a beta of 1.54. The business's 50-day moving average price is $140.34 and its 200-day moving average price is $143.94. The Middleby Corporation has a 12 month low of $118.09 and a 12 month high of $182.73.
Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.20 by $0.15. The firm had revenue of $977.86 million for the quarter, compared to analyst estimates of $979.59 million. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The company's revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.39 EPS. Sell-side analysts forecast that The Middleby Corporation will post 9.11 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have weighed in on MIDD. Barclays decreased their target price on Middleby from $180.00 to $165.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. JPMorgan Chase & Co. decreased their target price on Middleby from $145.00 to $125.00 and set an "underweight" rating on the stock in a research note on Thursday, August 7th. Zacks Research upgraded Middleby to a "strong sell" rating in a research note on Monday, August 11th. Wolfe Research set a $163.00 target price on Middleby and gave the stock an "outperform" rating in a research note on Thursday. Finally, Canaccord Genuity Group upped their target price on Middleby from $162.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $161.13.
Check Out Our Latest Stock Report on MIDD
Middleby Profile
(
Free Report)
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.
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