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

Covestor Ltd lifted its stake in The Middleby Co. (NASDAQ:MIDD) by 306.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 252 shares of the industrial products company’s stock after buying an additional 190 shares during the quarter. Covestor Ltd’s holdings in Middleby were worth $35,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings 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. SG Americas Securities LLC boosted its position in shares of Middleby by 62.7% in the first quarter. SG Americas Securities LLC now owns 2,616 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 1,008 shares during the period. Sei Investments Co. lifted its holdings in shares of Middleby by 11.7% in the first quarter. Sei Investments Co. now owns 59,913 shares of the industrial products company’s stock worth $9,634,000 after buying an additional 6,262 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Middleby by 3.5% in the first quarter. Russell Investments Group Ltd. now owns 13,409 shares of the industrial products company’s stock worth $2,156,000 after buying an additional 455 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Middleby during the first quarter valued at $234,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Trading Up 0.2 %

NASDAQ MIDD opened at $136.00 on Friday. The company’s 50-day moving average price is $136.95 and its 200-day moving average price is $133.45. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The stock has a market cap of $7.32 billion, a PE ratio of 18.76 and a beta of 1.58. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $161.01.

Middleby (NASDAQ:MIDD) last issued its 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 return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. During the same quarter in the previous year, the company earned $2.35 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. Equities research analysts forecast that The Middleby Co. will post 9.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MIDD. Robert W. Baird upped their price target 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. StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 price objective on shares of Middleby in a research report on Saturday, September 14th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Canaccord Genuity Group cut their price objective on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.67.

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.