Blue Trust Inc. Has $248,000 Stock Position in The Middleby Co. (NASDAQ:MIDD)

Blue Trust Inc. boosted its position in The Middleby Co. (NASDAQ:MIDD) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,022 shares of the industrial products company’s stock after buying an additional 93 shares during the quarter. Blue Trust Inc.’s holdings in Middleby were worth $248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in Middleby during the first quarter valued at about $25,000. Allspring Global Investments Holdings LLC lifted its position in shares of Middleby by 1,246.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 162 shares during the last quarter. Signaturefd LLC boosted its stake in Middleby by 230.1% during the 4th quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 168 shares during the period. GAMMA Investing LLC grew its holdings in Middleby by 97.7% in the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after buying an additional 126 shares during the last quarter. Finally, Crewe Advisors LLC increased its position in Middleby by 620.0% in the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after buying an additional 310 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Trading Up 0.2 %

MIDD stock opened at $139.44 on Monday. The Middleby Co. has a 1-year low of $109.59 and a 1-year high of $161.01. The company has a current ratio of 2.50, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $129.09 and its 200-day moving average is $138.79. The firm has a market cap of $7.50 billion, a P/E ratio of 19.42 and a beta of 1.61.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The firm had revenue of $991.55 million during the quarter, compared to analyst estimates of $994.05 million. During the same period in the prior year, the company posted $2.47 earnings per share. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities analysts anticipate that The Middleby Co. will post 9.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MIDD. Robert W. Baird raised their price objective on shares of Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Raymond James initiated coverage on shares of Middleby in a research report on Friday, June 28th. They set a “market perform” rating for the company. KeyCorp decreased their target price on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $159.00 price target on shares of Middleby in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.71.

Insider Buying and Selling

In other Middleby news, Director John R. Miller III sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $126.32, for a total transaction of $252,640.00. Following the sale, the director now directly owns 10,931 shares of the company’s stock, valued at $1,380,803.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.16% of the stock is currently owned by corporate insiders.

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.