Boston Partners Has $62.57 Million Stake in The Middleby Co. (NASDAQ:MIDD)

Boston Partners lifted its stake in shares of The Middleby Co. (NASDAQ:MIDDFree Report) by 38.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 489,130 shares of the industrial products company’s stock after buying an additional 134,978 shares during the quarter. Boston Partners owned about 0.91% of Middleby worth $62,566,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MIDD. Bank of Montreal Can acquired a new stake in shares of Middleby during the 2nd quarter worth about $85,831,000. Select Equity Group L.P. lifted its stake in shares of Middleby by 13.6% during the 4th quarter. Select Equity Group L.P. now owns 4,536,791 shares of the industrial products company’s stock worth $607,476,000 after buying an additional 541,956 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Middleby by 23.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,171,437 shares of the industrial products company’s stock worth $290,756,000 after buying an additional 407,150 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Middleby by 192.8% during the 1st quarter. Balyasny Asset Management L.P. now owns 532,784 shares of the industrial products company’s stock worth $78,111,000 after buying an additional 350,793 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Middleby during the 1st quarter worth about $31,419,000. Institutional investors and hedge funds own 96.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. KeyCorp cut their target price on shares of Middleby from $160.00 to $152.00 and set an “overweight” rating for the company in a research note on Thursday, November 9th. Citigroup dropped their price objective on shares of Middleby from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Barclays dropped their price objective on shares of Middleby from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, October 18th. TheStreet upgraded shares of Middleby from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Finally, Jefferies Financial Group lifted their price objective on shares of Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Middleby currently has an average rating of “Moderate Buy” and an average price target of $160.25.

Check Out Our Latest Research Report on MIDD

Middleby Price Performance

Shares of NASDAQ:MIDD opened at $143.12 on Friday. The stock has a market capitalization of $7.67 billion, a PE ratio of 16.96 and a beta of 1.56. The company has a current ratio of 2.27, a quick ratio of 1.09 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $139.90 and a 200-day moving average of $135.04. The Middleby Co. has a 12 month low of $109.59 and a 12 month high of $161.36.

Middleby (NASDAQ:MIDDGet Free Report) last released its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.06. The business had revenue of $980.65 million during the quarter, compared to analysts’ expectations of $1.02 billion. Middleby had a net margin of 11.28% and a return on equity of 17.52%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 EPS. On average, equities research analysts predict that The Middleby Co. will post 9.45 EPS for the current fiscal year.

Middleby Profile

(Free Report)

The Middleby Corporation designs, manufactures, markets, 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, and IoT solutions.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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