Headlands Technologies LLC Invests $610,000 in The Middleby Co. (NASDAQ:MIDD)

Headlands Technologies LLC purchased a new stake in The Middleby Co. (NASDAQ:MIDD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,978 shares of the industrial products company’s stock, valued at approximately $610,000.

Several other hedge funds have also bought and sold shares of the business. Rise Advisors LLC bought a new stake in shares of Middleby during the first quarter worth about $25,000. Allspring Global Investments Holdings LLC boosted its stake in Middleby by 1,246.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC increased its holdings in Middleby by 97.7% during the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 126 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Middleby in the second quarter worth approximately $45,000. Finally, Crewe Advisors LLC lifted its holdings in shares of Middleby by 620.0% in the first quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MIDD. Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 price target on shares of Middleby in a research report on Friday, August 30th. JPMorgan Chase & Co. raised their price target on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Robert W. Baird upped their price objective on shares of Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Raymond James began coverage on shares of Middleby in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, KeyCorp cut their target price on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Middleby has a consensus rating of “Moderate Buy” and a consensus target price of $155.43.

Middleby Stock Down 0.2 %

Middleby stock opened at $129.41 on Thursday. The firm has a 50 day moving average price of $133.73 and a 200-day moving average price of $137.81. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 0.69. The Middleby Co. has a twelve month low of $109.59 and a twelve month high of $161.01. The company has a market capitalization of $6.96 billion, a P/E ratio of 18.02 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The business had revenue of $991.55 million during the quarter, compared to the consensus estimate of $994.05 million. During the same period last year, the business posted $2.47 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities analysts predict that The Middleby Co. will post 9.66 EPS for the current year.

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.