TD Asset Management Inc Has $32.61 Million Position in The Middleby Corporation $MIDD

Key Points

• TD Asset Management Inc has reduced its stake in The Middleby Corporation by 12.1%, now holding 226,486 shares valued at approximately $32.61 million.
• The Middleby Corporation reported earnings of $2.35 per share for the recent quarter, surpassing analysts' expectations, despite a 1.4% decline in revenue year-over-year.
• Analysts have varied outlooks on Middleby, with price targets ranging from $125 to $175, and an average rating of "Hold" based on recent assessments.

TD Asset Management Inc lowered its stake in The Middleby Corporation (NASDAQ:MIDD - Free Report) by 12.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,486 shares of the industrial products company's stock after selling 31,277 shares during the period. TD Asset Management Inc owned 0.42% of Middleby worth $32,614,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 valued at $460,422,000 after acquiring an additional 1,133,931 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of Middleby by 0.6% during the 1st quarter. Earnest Partners LLC now owns 1,319,757 shares of the industrial products company's stock valued at $200,577,000 after acquiring an additional 7,791 shares in the last quarter. Clarkston Capital Partners LLC boosted its holdings in shares of Middleby by 1.5% during the 1st quarter. Clarkston Capital Partners LLC now owns 688,560 shares of the industrial products company's stock valued at $104,647,000 after acquiring an additional 10,310 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Middleby by 32.5% during the first quarter. Epoch Investment Partners Inc. now owns 578,496 shares of the industrial products company's stock valued at $87,920,000 after purchasing an additional 141,769 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Middleby by 2.2% during the first quarter. Northern Trust Corp now owns 503,045 shares of the industrial products company's stock valued at $76,453,000 after purchasing an additional 10,780 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company's stock.

Middleby Stock Up 0.2%

Shares of NASDAQ:MIDD opened at $134.03 on Friday. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 17.05 and a beta of 1.52. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.56. The business's 50-day moving average is $134.66 and its 200-day moving average is $139.37. The Middleby Corporation has a 1 year low of $118.09 and a 1 year 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.15. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The company had revenue of $977.86 million for the quarter, compared to the consensus estimate of $979.59 million. During the same period in the previous year, the business earned $2.39 EPS. The firm's revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that The Middleby Corporation will post 9.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MIDD. Wall Street Zen lowered Middleby from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Canaccord Genuity Group lifted their target price on shares of Middleby from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. lifted their price target on shares of Middleby from $125.00 to $140.00 and gave the stock an "underweight" rating in a report on Tuesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Middleby in a report on Wednesday, October 8th. Finally, Wolfe Research set a $163.00 price target on shares of Middleby and gave the stock an "outperform" rating in a report on Thursday, September 4th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $162.86.

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.

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