The Middleby Co. (NASDAQ:MIDD) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC trimmed its holdings in The Middleby Co. (NASDAQ:MIDD) by 14.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,641 shares of the industrial products company’s stock after selling 269 shares during the quarter. Ballentine Partners LLC’s holdings in Middleby were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Rise Advisors LLC bought a new stake in shares of Middleby in the 1st quarter worth approximately $25,000. Allspring Global Investments Holdings LLC grew its position in Middleby by 1,246.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock worth $28,000 after buying an additional 162 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Middleby by 97.7% in the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after buying an additional 126 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Middleby during the 2nd quarter valued at $45,000. Finally, Crewe Advisors LLC boosted its stake in shares of Middleby by 620.0% during the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 310 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MIDD. JPMorgan Chase & Co. upped their target price on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a 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 company an “outperform” rating in a research note on Friday, August 2nd. KeyCorp dropped their target price on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Raymond James began coverage on shares of Middleby in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 price objective on shares of Middleby in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Middleby presently has an average rating of “Moderate Buy” and a consensus price target of $155.43.

Middleby Stock Down 1.1 %

MIDD stock opened at $128.04 on Friday. The company has a 50 day moving average of $133.86 and a two-hundred day moving average of $137.74. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 17.83 and a beta of 1.58. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 0.69.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $991.55 million during the quarter, compared to analysts’ expectations of $994.05 million. During the same quarter last year, the firm earned $2.47 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities analysts anticipate that The Middleby Co. will post 9.66 earnings per share for the current fiscal year.

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.