Creative Planning Has $944,000 Position in The Middleby Co. (NASDAQ:MIDD)

Creative Planning increased its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 6.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 7,700 shares of the industrial products company’s stock after acquiring an additional 492 shares during the period. Creative Planning’s holdings in Middleby were worth $944,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Greenleaf Trust lifted its holdings in Middleby by 4.3% during the 1st quarter. Greenleaf Trust now owns 1,807 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 75 shares during the last quarter. Blue Trust Inc. lifted its holdings in Middleby by 4.8% during the 2nd quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 93 shares during the last quarter. Mendota Financial Group LLC lifted its holdings in Middleby by 10.0% during the 2nd quarter. Mendota Financial Group LLC now owns 1,150 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 105 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Middleby by 97.7% during the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 126 shares during the last quarter. Finally, Aurora Investment Counsel lifted its holdings in Middleby by 1.3% during the 1st quarter. Aurora Investment Counsel now owns 10,584 shares of the industrial products company’s stock valued at $1,702,000 after purchasing an additional 133 shares during the last quarter. 98.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. KeyCorp dropped their target price on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 target price on shares of Middleby in a research note on Friday, September 13th. JPMorgan Chase & Co. boosted their target price on shares of Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Finally, Raymond James assumed coverage on shares of Middleby in a research note on Friday, June 28th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Middleby currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Middleby Stock Up 0.4 %

Shares of NASDAQ:MIDD opened at $133.43 on Friday. The Middleby Co. has a one year low of $109.59 and a one year high of $161.01. The company has a 50 day moving average of $137.41 and a 200-day moving average of $135.54. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 18.58 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The company had revenue of $991.55 million during the quarter, compared to analysts’ expectations of $994.05 million. During the same quarter in the previous year, the company earned $2.47 EPS. Middleby’s revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts forecast that The Middleby Co. will post 9.63 earnings per share for the current 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.