Fox Run Management L.L.C. Buys Shares of 6,153 The Middleby Corporation $MIDD

Key Points

• Fox Run Management L.L.C. has invested approximately $935,000 in The Middleby Corporation by purchasing 6,153 shares in the first quarter.
• Institutional investors and hedge funds hold a substantial 98.55% of Middleby’s stock, indicating strong institutional confidence in the company.
• Wall Street analysts have recently lowered their price targets for Middleby, with an average target of $159.00, reflecting mixed outlooks on the stock.

Fox Run Management L.L.C. acquired a new stake in The Middleby Corporation (NASDAQ:MIDD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,153 shares of the industrial products company's stock, valued at approximately $935,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Oak Ridge Investments LLC lifted its position in Middleby by 1.6% in the first quarter. Oak Ridge Investments LLC now owns 20,325 shares of the industrial products company's stock valued at $3,089,000 after purchasing an additional 313 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Middleby during the first quarter valued at approximately $19,651,000. Neuberger Berman Group LLC increased its stake in shares of Middleby by 2.3% during the first quarter. Neuberger Berman Group LLC now owns 5,990 shares of the industrial products company's stock valued at $910,000 after buying an additional 137 shares during the period. Leith Wheeler Investment Counsel Ltd. increased its stake in shares of Middleby by 1.3% during the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 66,801 shares of the industrial products company's stock valued at $10,152,000 after buying an additional 829 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Middleby during the first quarter valued at approximately $158,000. Institutional investors own 98.55% of the company's stock.

Middleby Stock Up 0.0%

Shares of NASDAQ MIDD traded up $0.0580 during trading on Thursday, reaching $130.4580. The company had a trading volume of 241,891 shares, compared to its average volume of 911,591. The Middleby Corporation has a 12-month low of $118.09 and a 12-month high of $182.73. The stock has a market cap of $6.61 billion, a PE ratio of 16.60 and a beta of 1.58. The business's 50-day moving average is $141.70 and its 200 day moving average is $146.61. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MIDD. Zacks Research raised Middleby to a "strong sell" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. reduced 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. Barclays reduced 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. Robert W. Baird reduced their target price on Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Finally, Wall Street Zen cut Middleby from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Five 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $159.00.

Middleby Company 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.