30,827 Shares in The Middleby Corporation $MIDD Bought by Roubaix Capital LLC

Key Points

• Roubaix Capital LLC acquired 30,827 shares of The Middleby Corporation, representing approximately $4.7 million and making it the firm's 15th largest position.
• During the past quarters, several institutional investors increased their stakes in Middleby, with 98.55% of the stock now owned by these entities.
• The Middleby Corporation's recent earnings report showed $2.35 EPS, exceeding analysts' expectations while revenue fell 1.4% year-over-year.

Roubaix Capital LLC acquired a new position in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,827 shares of the industrial products company's stock, valued at approximately $4,685,000. Middleby accounts for approximately 2.4% of Roubaix Capital LLC's portfolio, making the stock its 15th biggest position. Roubaix Capital LLC owned 0.06% of Middleby as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. TCTC Holdings LLC increased its position in shares of Middleby by 116.7% during the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company's stock worth $26,000 after acquiring an additional 91 shares during the period. Versant Capital Management Inc lifted its position in shares of Middleby by 760.0% during the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock worth $39,000 after purchasing an additional 228 shares during the last quarter. Coppell Advisory Solutions LLC grew its stake in shares of Middleby by 220.6% during the fourth quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company's stock worth $82,000 after purchasing an additional 417 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Middleby by 60.3% during the first quarter. UMB Bank n.a. now owns 638 shares of the industrial products company's stock worth $97,000 after purchasing an additional 240 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Middleby by 44.9% during the first quarter. GAMMA Investing LLC now owns 901 shares of the industrial products company's stock worth $137,000 after purchasing an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MIDD shares. Zacks Research upgraded shares of Middleby to a "strong sell" rating in a research note on Monday, August 11th. Barclays lowered their target price on shares of Middleby from $180.00 to $165.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. JPMorgan Chase & Co. lowered their target price on shares of Middleby from $145.00 to $125.00 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Canaccord Genuity Group lowered their target price on shares of Middleby from $186.00 to $162.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, Robert W. Baird lowered their target price on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. 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. According to data from MarketBeat.com, Middleby has an average rating of "Hold" and a consensus target price of $159.00.

Middleby Stock Up 5.4%

NASDAQ:MIDD traded up $6.9860 during midday trading on Friday, hitting $137.1160. 346,817 shares of the company were exchanged, compared to its average volume of 911,363. The company has a fifty day simple moving average of $141.43 and a 200 day simple moving average of $146.34. The Middleby Corporation has a fifty-two week low of $118.09 and a fifty-two week high of $182.73. 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 market capitalization of $6.95 billion, a PE ratio of 17.45 and a beta of 1.58.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, topping 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 firm had revenue of $977.86 million for the quarter, compared to analyst estimates of $979.59 million. During the same period last year, the business earned $2.39 EPS. Middleby's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate 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.