Alliancebernstein L.P. lifted its stake in Middleby Corp (NASDAQ:MIDD) by 21.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,224 shares of the industrial products company’s stock after acquiring an additional 14,477 shares during the period. Alliancebernstein L.P. owned approximately 0.15% of Middleby worth $10,765,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in MIDD. EdgePoint Investment Group Inc. grew its stake in shares of Middleby by 152.2% in the second quarter. EdgePoint Investment Group Inc. now owns 5,005,532 shares of the industrial products company’s stock worth $522,678,000 after acquiring an additional 3,020,865 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Middleby by 29.1% in the second quarter. Janus Henderson Group PLC now owns 2,683,129 shares of the industrial products company’s stock worth $280,172,000 after acquiring an additional 604,451 shares during the last quarter. Waddell & Reed Financial Inc. grew its stake in shares of Middleby by 98.8% in the second quarter. Waddell & Reed Financial Inc. now owns 799,138 shares of the industrial products company’s stock worth $83,446,000 after acquiring an additional 397,157 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Middleby in the third quarter worth $13,832,000. Finally, Tobam grew its stake in shares of Middleby by 247.8% in the third quarter. Tobam now owns 84,105 shares of the industrial products company’s stock worth $10,879,000 after acquiring an additional 59,925 shares during the last quarter.
MIDD opened at $109.37 on Friday. Middleby Corp has a fifty-two week low of $98.06 and a fifty-two week high of $138.89. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.88. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 17.75 and a beta of 1.88.
Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $1.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.01). Middleby had a return on equity of 22.14% and a net margin of 11.45%. The business had revenue of $713.30 million for the quarter, compared to analyst estimates of $731.46 million. During the same quarter in the prior year, the firm earned $1.36 EPS. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. On average, sell-side analysts anticipate that Middleby Corp will post 5.99 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on MIDD shares. TheStreet upgraded shares of Middleby from a “c+” rating to a “b-” rating in a research note on Wednesday, September 5th. BidaskClub upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Zacks Investment Research upgraded shares of Middleby from a “hold” rating to a “buy” rating and set a $139.00 price target on the stock in a research note on Tuesday, October 9th. Buckingham Research upgraded shares of Middleby from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $115.00 to $174.00 in a research note on Monday, September 24th. Finally, Seaport Global Securities upgraded shares of Middleby from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $139.83.
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Middleby Company Profile
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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