Posted by admin on Aug 15th, 2022

Swiss National Bank increased its position in The Middleby Co. (NASDAQ:MIDD – Get Rating) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,500 shares of the industrial products company’s stock after acquiring an additional 9,000 shares during the period. Swiss National Bank owned approximately 0.24% of Middleby worth $21,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its stake in Middleby by 39.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 191 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 54 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Middleby during the 4th quarter valued at about $73,000. Fifth Third Bancorp raised its stake in shares of Middleby by 17.0% during the 4th quarter. Fifth Third Bancorp now owns 400 shares of the industrial products company’s stock valued at $79,000 after buying an additional 58 shares during the last quarter. CWM LLC purchased a new position in shares of Middleby during the 4th quarter valued at about $87,000. Finally, Chilton Capital Management LLC purchased a new position in shares of Middleby during the 4th quarter valued at about $139,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

In other news, Director Nassem Ziyad purchased 2,035 shares of Middleby stock in a transaction dated Tuesday, May 24th. The shares were purchased at an average price of $135.83 per share, with a total value of $276,414.05. Following the transaction, the director now owns 10,845 shares in the company, valued at $1,473,076.35. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Nassem Ziyad purchased 2,035 shares of Middleby stock in a transaction dated Tuesday, May 24th. The shares were purchased at an average price of $135.83 per share, with a total value of $276,414.05. Following the transaction, the director now owns 10,845 shares in the company, valued at $1,473,076.35. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Chapin Sarah Palisi sold 250 shares of Middleby stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $148.53, for a total transaction of $37,132.50. Following the sale, the director now directly owns 7,460 shares in the company, valued at approximately $1,108,033.80. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company’s stock.

Shares of Middleby stock opened at $156.98 on Monday. The stock has a market cap of $8.54 billion, a P/E ratio of 18.51 and a beta of 1.59. The stock’s 50 day simple moving average is $135.43 and its 200-day simple moving average is $153.33. The Middleby Co. has a 1-year low of $120.30 and a 1-year high of $201.34. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.98 and a quick ratio of 0.95.

Middleby (NASDAQ:MIDD – Get Rating) last issued its earnings results on Thursday, August 4th. The industrial products company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.07. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $995.84 million. Middleby had a return on equity of 19.11% and a net margin of 12.94%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.11 EPS. Analysts predict that The Middleby Co. will post 9.52 EPS for the current fiscal year.

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Middleby from $160.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 12th. Citigroup dropped their target price on Middleby from $180.00 to $160.00 in a research report on Thursday, July 7th. KeyCorp dropped their target price on Middleby from $182.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, July 22nd. Robert W. Baird lowered their price objective on Middleby from $211.00 to $201.00 in a report on Wednesday, May 11th. Finally, TheStreet cut Middleby from a “b-” rating to a “c+” rating in a report on Wednesday, May 11th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.60.

The Middleby Corporation designs, manufactures, markets, distributes, and services a range of 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 conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, 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; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.

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