Oppenheimer Asset Management Inc. Has $2.69 Million Stake in The Middleby Corporation (NASDAQ:MIDD)

Oppenheimer Asset Management Inc. lifted its holdings in The Middleby Corporation (NASDAQ:MIDD - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,665 shares of the industrial products company's stock after purchasing an additional 1,785 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Middleby were worth $2,685,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. grew its holdings in Middleby by 16.0% during the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 78 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Middleby by 1.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company's stock worth $971,000 after buying an additional 81 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Middleby by 2.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,472 shares of the industrial products company's stock valued at $470,000 after buying an additional 95 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Middleby by 2.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,566 shares of the industrial products company's stock worth $542,000 after acquiring an additional 101 shares during the period. Finally, Aurora Investment Counsel raised its holdings in Middleby by 0.9% in the 4th quarter. Aurora Investment Counsel now owns 12,596 shares of the industrial products company's stock worth $1,706,000 after acquiring an additional 108 shares during the period. 98.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MIDD has been the subject of a number of recent analyst reports. KeyCorp decreased their price target on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Wall Street Zen downgraded Middleby from a "buy" rating to a "hold" rating in a research note on Thursday, April 10th. Robert W. Baird dropped their price target on Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, Canaccord Genuity Group cut their price target on Middleby from $200.00 to $186.00 and set a "buy" rating for the company in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $168.14.

Middleby Stock Performance

Middleby stock traded down $0.94 during trading hours on Monday, hitting $144.00. The stock had a trading volume of 1,450,718 shares, compared to its average volume of 730,568. The company has a 50-day moving average of $142.74 and a two-hundred day moving average of $147.13. The company has a quick ratio of 1.73, a current ratio of 2.72 and a debt-to-equity ratio of 0.63. The Middleby Corporation has a fifty-two week low of $118.41 and a fifty-two week high of $182.73. The company has a market cap of $7.73 billion, a PE ratio of 18.00 and a beta of 1.61.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $2.08 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.14. Middleby had a return on equity of 14.47% and a net margin of 11.26%. The business had revenue of $906.63 million during the quarter, compared to analyst estimates of $941.46 million. During the same period in the prior year, the company posted $1.89 earnings per share. Middleby's revenue was down 2.2% on a year-over-year basis. On average, equities research analysts anticipate that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Insider Activity

In other Middleby news, Director Edward P. Garden bought 249,339 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average cost of $149.59 per share, for a total transaction of $37,298,621.01. Following the transaction, the director owned 3,088,263 shares in the company, valued at approximately $461,973,262.17. The trade was a 8.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have acquired 640,968 shares of company stock valued at $93,495,270. Corporate insiders own 6.18% of the company's stock.

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.