Landscape Capital Management L.L.C. Makes New Investment in The Middleby Co. (NASDAQ:MIDD)

Landscape Capital Management L.L.C. purchased a new stake in shares of The Middleby Co. (NASDAQ:MIDD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,197 shares of the industrial products company’s stock, valued at approximately $306,000.

Other large investors have also recently modified their holdings of the company. Quadrature Capital Ltd bought a new stake in Middleby during the 1st quarter valued at about $664,000. Price T Rowe Associates Inc. MD lifted its position in Middleby by 0.8% in the 1st 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 in the last quarter. Interval Partners LP purchased a new stake in Middleby during the 1st quarter valued at $7,193,000. Tidal Investments LLC increased its holdings in shares of Middleby by 278.9% in the 1st quarter. Tidal Investments LLC now owns 9,060 shares of the industrial products company’s stock worth $1,457,000 after purchasing an additional 6,669 shares in the last quarter. Finally, Zimmer Partners LP purchased a new position in shares of Middleby in the first quarter worth $7,797,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analyst Ratings Changes

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

Middleby Trading Up 2.5 %

Shares of MIDD stock opened at $142.16 on Monday. The Middleby Co. has a 1 year low of $118.41 and a 1 year high of $161.01. The firm has a fifty day moving average price of $137.72 and a 200-day moving average price of $133.32. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 19.61 and a beta of 1.58. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) 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 the consensus estimate of $996.60 million. During the same period in the prior year, the firm posted $2.35 EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities analysts predict that The Middleby Co. will post 9.2 earnings per share for the current 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.