Epoch Investment Partners Inc. Has $87.92 Million Stock Position in The Middleby Corporation $MIDD

Key Points

• Epoch Investment Partners Inc. has increased its stake in The Middleby Corporation by 32.5%, acquiring 141,769 shares to own a total of 578,496 shares valued at approximately $87.9 million.
• Multiple institutional investors, including TCTC Holdings LLC and Versant Capital Management Inc., have significantly grown their positions in Middleby, indicating strong interest in the stock.
• Analysts have set new price targets for Middleby, with recent reports lowering targets to a range of $162.00 to $165.00, while the overall market rating sits at an average of "Hold".

Epoch Investment Partners Inc. increased its holdings in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 32.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 578,496 shares of the industrial products company's stock after acquiring an additional 141,769 shares during the period. Epoch Investment Partners Inc. owned about 1.08% of Middleby worth $87,920,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MIDD. Price T Rowe Associates Inc. MD grew its position in Middleby by 59.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,029,484 shares of the industrial products company's stock worth $460,422,000 after acquiring an additional 1,133,931 shares during the last quarter. Garden Investment Management L.P. bought a new stake in Middleby during the 4th quarter worth approximately $101,958,000. Ameriprise Financial Inc. grew its position in Middleby by 237.2% during the 4th quarter. Ameriprise Financial Inc. now owns 366,293 shares of the industrial products company's stock worth $49,614,000 after acquiring an additional 257,669 shares during the last quarter. Nuveen LLC acquired a new position in Middleby during the 1st quarter worth $29,733,000. Finally, GAMMA Investing LLC lifted its holdings in Middleby by 21,915.1% during the 1st quarter. GAMMA Investing LLC now owns 136,934 shares of the industrial products company's stock worth $20,811,000 after buying an additional 136,312 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MIDD has been the topic of several research reports. Zacks Research raised Middleby to a "strong sell" rating in a report on Monday, August 11th. Canaccord Genuity Group reduced their price objective on Middleby from $186.00 to $162.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Robert W. Baird reduced their price objective on Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Barclays reduced their price objective on Middleby from $180.00 to $165.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Middleby from $145.00 to $125.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Middleby has a consensus rating of "Hold" and an average price target of $159.00.

Middleby Trading Down 0.7%

Shares of MIDD stock traded down $0.94 on Thursday, hitting $136.84. The stock had a trading volume of 896,293 shares, compared to its average volume of 1,243,500. The Middleby Corporation has a twelve month low of $118.09 and a twelve month high of $182.73. The firm has a market cap of $6.94 billion, a P/E ratio of 17.41 and a beta of 1.58. 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 company has a fifty day moving average price of $140.92 and a two-hundred day moving average price of $145.31.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.15. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The company had revenue of $977.86 million during the quarter, compared to analyst estimates of $979.59 million. During the same quarter in the previous year, the business earned $2.39 EPS. The firm's revenue was down 1.4% on a year-over-year basis. As a group, analysts forecast that The Middleby Corporation will post 9.11 earnings per share for the current fiscal year.

Middleby 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.