Vanguard Group Inc. increased its stake in The Middleby Corp. (NASDAQ:MIDD) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,032,828 shares of the company’s stock after buying an additional 86,346 shares during the period. Vanguard Group Inc. owned about 7.01% of The Middleby Corp. worth $464,783,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in The Middleby Corp. by 12.5% in the first quarter. JPMorgan Chase & Co. now owns 1,132,855 shares of the company’s stock valued at $120,956,000 after buying an additional 125,523 shares during the period. Handelsbanken Fonder AB raised its position in The Middleby Corp. by 72.3% in the second quarter. Handelsbanken Fonder AB now owns 286,000 shares of the company’s stock valued at $32,962,000 after buying an additional 120,000 shares during the period. State Street Corp raised its position in The Middleby Corp. by 3.9% in the first quarter. State Street Corp now owns 709,942 shares of the company’s stock valued at $75,801,000 after buying an additional 26,405 shares during the period. Renaissance Technologies LLC bought a new position in The Middleby Corp. during the first quarter valued at $27,223,000. Finally, Calamos Advisors LLC bought a new position in The Middleby Corp. during the second quarter valued at $23,355,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.
The Middleby Corp. (NASDAQ:MIDD) traded up 0.45% during mid-day trading on Tuesday, reaching $123.53. The company had a trading volume of 4,593 shares. The Middleby Corp. has a 12-month low of $79.11 and a 12-month high of $140.98. The stock has a 50-day moving average of $126.33 and a 200 day moving average of $117.86. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 31.12 and a beta of 1.45.
The Middleby Corp. (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.17. The Middleby Corp. had a return on equity of 20.50% and a net margin of 10.89%. On average, analysts expect that The Middleby Corp. will post $4.80 EPS for the current year.
MIDD has been the topic of several recent analyst reports. Wellington Shields raised The Middleby Corp. from a “hold” rating to an “accumulate” rating in a research report on Friday, September 9th. Deutsche Bank AG assumed coverage on The Middleby Corp. in a report on Tuesday, September 6th. They set a “hold” rating and a $123.00 target price on the stock. Finally, Zacks Investment Research raised The Middleby Corp. from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Tuesday, August 16th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $126.80.
About The Middleby Corp.
The Middleby Corporation (Middleby) is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.
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