The Middleby Corporation $MIDD Stock Holdings Raised by Clarkston Capital Partners LLC

Key Points

• Clarkston Capital Partners LLC increased its stake in The Middleby Corporation by 1.5%, owning 688,560 shares worth approximately $104.6 million.
• Several institutional investors modified their holdings, with ProShare Advisors LLC increasing its position by 7.4% in the last quarter, while Garden Investment Management acquired a new position valued at about $101.96 million.
• Wall Street analysts have mixed ratings for Middleby, with a consensus price target of $159 and ratings ranging from "buy" to "strong sell."

Clarkston Capital Partners LLC raised its stake in The Middleby Corporation (NASDAQ:MIDD - Free Report) by 1.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 688,560 shares of the industrial products company's stock after purchasing an additional 10,310 shares during the period. Middleby accounts for approximately 2.1% of Clarkston Capital Partners LLC's holdings, making the stock its 18th biggest holding. Clarkston Capital Partners LLC owned 1.28% of Middleby worth $104,647,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC increased its position in shares of Middleby by 7.4% in the 4th quarter. ProShare Advisors LLC now owns 2,517 shares of the industrial products company's stock worth $341,000 after purchasing an additional 173 shares during the last quarter. Garden Investment Management L.P. acquired a new position in shares of Middleby in the 4th quarter valued at about $101,958,000. Sarasin & Partners LLP acquired a new position in shares of Middleby in the 1st quarter valued at about $2,283,000. IMC Chicago LLC acquired a new position in shares of Middleby in the 1st quarter valued at about $4,069,000. Finally, Two Sigma Investments LP acquired a new position in shares of Middleby in the 4th quarter valued at about $1,621,000. Institutional investors own 98.55% of the company's stock.

Wall Street Analysts Forecast Growth

MIDD has been the subject of several research reports. Canaccord Genuity Group decreased their price target on shares of Middleby from $186.00 to $162.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Zacks Research raised shares of Middleby to a "strong sell" rating in a report on Monday, August 11th. Barclays decreased their price target on shares of Middleby from $180.00 to $165.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Wall Street Zen lowered shares of Middleby from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Robert W. Baird reduced 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 issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Middleby presently has an average rating of "Hold" and a consensus price target of $159.00.

Middleby Trading Down 1.7%

Middleby stock opened at $130.40 on Thursday. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $141.70 and a two-hundred day moving average price of $146.61. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 16.59 and a beta of 1.58. The Middleby Corporation has a 52-week low of $118.09 and a 52-week high of $182.73.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its earnings results 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. The firm had revenue of $977.86 million during the quarter, compared to analyst estimates of $979.59 million. Middleby had a net margin of 11.06% and a return on equity of 14.14%. Middleby's revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.39 EPS. Sell-side analysts expect that The Middleby Corporation will post 9.11 earnings per share 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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