The Middleby Co. (NASDAQ:MIDD) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its position in The Middleby Co. (NASDAQ:MIDD) by 133.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,618 shares of the industrial products company’s stock after purchasing an additional 3,783 shares during the period. M&T Bank Corp’s holdings in Middleby were worth $920,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Middleby during the second quarter worth about $225,000. Blue Trust Inc. boosted its stake in shares of Middleby by 4.8% during the second quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock worth $248,000 after buying an additional 93 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Middleby by 2.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,367 shares of the industrial products company’s stock worth $781,000 after buying an additional 161 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Middleby in the 2nd quarter valued at about $583,000. Finally, Lecap Asset Management Ltd. purchased a new stake in Middleby during the 2nd quarter valued at approximately $1,564,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Canaccord Genuity Group lowered their target price on Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 target price on shares of Middleby in a report on Saturday, September 14th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $160.00 price target (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $154.67.

Middleby Stock Down 1.3 %

Shares of NASDAQ MIDD opened at $136.98 on Tuesday. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 18.89 and a beta of 1.60. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $161.01. The firm has a 50-day moving average price of $138.77 and a 200 day moving average price of $134.61. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results 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). The firm had revenue of $942.81 million for the quarter, compared to analysts’ expectations of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. Middleby’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm earned $2.35 EPS. Equities research analysts anticipate that The Middleby Co. will post 9.12 EPS for the current fiscal year.

Middleby 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.