Squarepoint Ops LLC Boosts Stake in The Middleby Co. (NASDAQ:MIDD)

Squarepoint Ops LLC boosted its stake in The Middleby Co. (NASDAQ:MIDD) by 39.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 123,500 shares of the industrial products company’s stock after acquiring an additional 34,945 shares during the period. Squarepoint Ops LLC’s holdings in Middleby were worth $15,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rise Advisors LLC purchased a new position in shares of Middleby during the 1st quarter worth $25,000. Allspring Global Investments Holdings LLC lifted its stake 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 period. GAMMA Investing LLC lifted its stake in shares of Middleby by 97.7% during the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 126 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Middleby during the 2nd quarter worth $45,000. Finally, Crewe Advisors LLC lifted its stake in shares of Middleby by 620.0% during the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Up 0.3 %

Shares of NASDAQ MIDD opened at $141.71 on Friday. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01. The company has a market cap of $7.62 billion, a P/E ratio of 19.74 and a beta of 1.58. The company has a current ratio of 2.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average price of $137.08 and a 200 day moving average price of $136.74.

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

Analysts Set New Price Targets

MIDD has been the topic of a number of recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. Raymond James initiated coverage on Middleby in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. increased their target price on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 target price on shares of Middleby in a research report on Friday, September 13th. Finally, Robert W. Baird increased their target price on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Middleby has an average rating of “Moderate Buy” and an average price target of $156.50.

Middleby Company 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.