Quantbot Technologies LP Has $4.65 Million Stock Holdings in The Middleby Corporation $MIDD

Key Points

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Quantbot Technologies LP increased its stake in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 374.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,598 shares of the industrial products company's stock after acquiring an additional 24,149 shares during the period. Quantbot Technologies LP owned about 0.06% of Middleby worth $4,650,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Burgundy Asset Management Ltd. raised its holdings in shares of Middleby by 5.0% during the first quarter. Burgundy Asset Management Ltd. now owns 1,604 shares of the industrial products company's stock worth $244,000 after acquiring an additional 77 shares during the period. TCTC Holdings LLC grew its position in Middleby by 116.7% in the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 91 shares in the last quarter. Xponance Inc. grew its position in Middleby by 1.6% in the first quarter. Xponance Inc. now owns 6,223 shares of the industrial products company's stock valued at $946,000 after purchasing an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in 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 valued at $1,675,000 after purchasing an additional 100 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Middleby by 2.9% in the first quarter. Janney Montgomery Scott LLC now owns 3,566 shares of the industrial products company's stock valued at $542,000 after purchasing an additional 101 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Performance

Shares of MIDD traded up $7.18 during midday trading on Friday, reaching $137.31. The stock had a trading volume of 792,081 shares, compared to its average volume of 1,214,674. The firm has a 50 day simple moving average of $141.35 and a 200-day simple moving average of $145.83. The Middleby Corporation has a one year low of $118.09 and a one year high of $182.73. The firm has a market cap of $6.96 billion, a PE ratio of 17.47 and a beta of 1.58. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64.

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

Analyst Ratings Changes

MIDD has been the subject of a number of analyst reports. Robert W. Baird decreased their target price on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Canaccord Genuity Group decreased their target price on shares of Middleby from $186.00 to $162.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Middleby from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. JPMorgan Chase & Co. decreased their target price on shares of Middleby from $145.00 to $125.00 and set an "underweight" rating for the company in a research report on Thursday, August 7th. Finally, Zacks Research raised shares of Middleby to a "strong sell" rating in a research report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Middleby presently has an average rating of "Hold" and an average target price of $159.00.

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.