The Middleby Co. (NASDAQ:MIDD) Shares Acquired by S&CO Inc.

S&CO Inc. raised its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 0.3% during the 3rd quarter, Holdings Channel reports. The fund owned 66,825 shares of the industrial products company’s stock after purchasing an additional 200 shares during the period. S&CO Inc.’s holdings in Middleby were worth $9,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. lifted its position in shares of Middleby by 421.5% in the first quarter. Epoch Investment Partners Inc. now owns 356,714 shares of the industrial products company’s stock worth $57,356,000 after buying an additional 288,314 shares during the last quarter. Tidal Investments LLC raised its holdings in Middleby by 278.9% in the 1st quarter. Tidal Investments LLC now owns 9,060 shares of the industrial products company’s stock valued at $1,457,000 after acquiring an additional 6,669 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Middleby by 18.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 56,484 shares of the industrial products company’s stock valued at $8,281,000 after acquiring an additional 8,768 shares in the last quarter. Vanguard Group Inc. raised its holdings in Middleby by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock valued at $822,165,000 after acquiring an additional 15,798 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in Middleby in the 2nd quarter valued at approximately $500,000. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

NASDAQ MIDD opened at $136.00 on Friday. The Middleby Co. has a 52-week low of $118.41 and a 52-week high of $161.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The company has a market capitalization of $7.32 billion, a P/E ratio of 18.76 and a beta of 1.58. The company has a fifty day moving average of $136.95 and a 200-day moving average of $133.41.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 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 period in the previous year, the firm earned $2.35 EPS. The company’s revenue was down 3.9% on a year-over-year basis. As a group, equities research analysts predict that The Middleby Co. will post 9.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.