The Middleby Co. (NASDAQ:MIDD) Stock Holdings Lifted by Select Equity Group L.P.

Select Equity Group L.P. lifted its holdings in The Middleby Co. (NASDAQ:MIDD) by 15.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,360,288 shares of the industrial products company’s stock after purchasing an additional 846,884 shares during the period. Middleby comprises 3.1% of Select Equity Group L.P.’s holdings, making the stock its 8th biggest position. Select Equity Group L.P. owned 0.12% of Middleby worth $779,835,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lighthouse Investment Partners LLC purchased a new stake in shares of Middleby during the 2nd quarter worth $465,000. The Manufacturers Life Insurance Company lifted its position in shares of Middleby by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 237,974 shares of the industrial products company’s stock valued at $29,178,000 after buying an additional 642 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Middleby by 41.6% in the 2nd quarter. AQR Capital Management LLC now owns 62,030 shares of the industrial products company’s stock valued at $7,605,000 after buying an additional 18,228 shares in the last quarter. Ariel Investments LLC boosted its holdings in shares of Middleby by 58.0% in the 2nd quarter. Ariel Investments LLC now owns 510,127 shares of the industrial products company’s stock valued at $62,547,000 after buying an additional 187,304 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Middleby by 76.3% in the 2nd quarter. Toronto Dominion Bank now owns 13,614 shares of the industrial products company’s stock worth $1,669,000 after buying an additional 5,891 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MIDD has been the subject of a number of analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. Robert W. Baird raised their price objective on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Raymond James began coverage on Middleby in a research report on Friday, June 28th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. increased their price target on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, KeyCorp dropped their price target on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.50.

Middleby Trading Up 0.7 %

Shares of NASDAQ:MIDD opened at $141.26 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 0.69. The Middleby Co. has a 52-week low of $109.59 and a 52-week high of $161.01. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 19.67 and a beta of 1.58. The business has a 50-day moving average price of $136.78 and a 200-day moving average price of $136.82.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The company had revenue of $991.55 million during the quarter, compared to analyst estimates of $994.05 million. Middleby had a net margin of 9.90% and a return on equity of 15.25%. Middleby’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.47 EPS. Equities analysts predict that The Middleby Co. will post 9.63 EPS 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.