Teton Advisors Inc. Has $380,000 Holdings in The Middleby Corporation $MIDD

Key Points

• Teton Advisors Inc. has reduced its holdings in The Middleby Corporation by 68.8%, now owning 2,500 shares valued at $380,000.
• Institutional investors collectively hold 98.55% of Middleby's stock, with notable adjustments from firms like Burgundy Asset Management and TCTC Holdings.
• Wall Street analysts have mixed outlooks on Middleby, with price targets ranging significantly, indicating varied confidence in the stock's future performance.

Teton Advisors Inc. decreased its holdings in The Middleby Corporation (NASDAQ:MIDD - Free Report) by 68.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,500 shares of the industrial products company's stock after selling 5,520 shares during the quarter. Teton Advisors Inc.'s holdings in Middleby were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Burgundy Asset Management Ltd. grew its stake in shares of Middleby by 5.0% in the first quarter. Burgundy Asset Management Ltd. now owns 1,604 shares of the industrial products company's stock worth $244,000 after purchasing an additional 77 shares during the last quarter. TCTC Holdings LLC grew its stake in shares of Middleby by 116.7% in the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company's stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Xponance Inc. grew its stake in shares of Middleby by 1.6% in the first quarter. Xponance Inc. now owns 6,223 shares of the industrial products company's stock worth $946,000 after purchasing an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Middleby by 0.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,020 shares of the industrial products company's stock worth $1,675,000 after purchasing an additional 100 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Middleby by 2.9% in the first quarter. Janney Montgomery Scott LLC now owns 3,566 shares of the industrial products company's stock worth $542,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 98.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MIDD. Zacks Research raised shares of Middleby to a "strong sell" rating in a research note on Monday, August 11th. Barclays reduced their price objective on shares of Middleby from $180.00 to $165.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. JPMorgan Chase & Co. reduced their price objective on shares of Middleby from $145.00 to $125.00 and set an "underweight" rating on the stock in a research note on Thursday, August 7th. Robert W. Baird cut their price target on shares of 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 shares of Middleby from $186.00 to $162.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $159.00.

Middleby Stock Performance

Shares of MIDD opened at $136.26 on Wednesday. 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 stock has a market capitalization of $6.91 billion, a P/E ratio of 17.34 and a beta of 1.58. The firm's fifty day simple moving average is $141.10 and its two-hundred day simple moving average is $145.56. The Middleby Corporation has a 12 month low of $118.09 and a 12 month high of $182.73.

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

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