Covestor Ltd Buys 190 Shares of The Middleby Co. (NASDAQ:MIDD)

Covestor Ltd raised its stake in The Middleby Co. (NASDAQ:MIDD) by 306.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 252 shares of the industrial products company’s stock after acquiring an additional 190 shares during the quarter. Covestor Ltd’s holdings in Middleby were worth $35,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Select Equity Group L.P. increased its holdings in shares of Middleby by 15.4% during the second quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock worth $779,835,000 after purchasing an additional 846,884 shares during the period. Vanguard Group Inc. raised its stake in shares of Middleby by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock valued at $822,165,000 after acquiring an additional 15,798 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of Middleby by 1.0% during the first quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock valued at $321,342,000 after acquiring an additional 20,511 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Middleby by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,450,221 shares of the industrial products company’s stock valued at $233,182,000 after acquiring an additional 11,552 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Middleby by 11,853.1% during the second quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company’s stock worth $118,609,000 after buying an additional 959,272 shares during the last quarter. 98.55% of the stock is owned by institutional investors.

Middleby Stock Performance

NASDAQ MIDD opened at $136.00 on Friday. The company’s 50 day simple moving average is $136.95 and its two-hundred day simple moving average is $133.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The stock has a market capitalization of $7.32 billion, a PE ratio of 18.76 and a beta of 1.58. The Middleby Co. has a 1 year low of $118.41 and a 1 year high of $161.01.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $942.81 million for the quarter, compared to analysts’ expectations of $996.60 million. During the same quarter last year, the business posted $2.35 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. Analysts predict that The Middleby Co. will post 9.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MIDD shares. JPMorgan Chase & Co. upped their price objective on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group reduced their price objective on shares of Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Robert W. Baird increased their target price on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.67.

About Middleby

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.