The Middleby Co. (NASDAQ:MIDD) Shares Bought by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. raised its position in shares of The Middleby Co. (NASDAQ:MIDD) by 11.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,482 shares of the industrial products company’s stock after acquiring an additional 10,115 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.18% of Middleby worth $11,830,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Middleby in the 4th quarter valued at $16,199,000. Corient Private Wealth LLC lifted its stake in shares of Middleby by 4.8% in the fourth quarter. Corient Private Wealth LLC now owns 7,824 shares of the industrial products company’s stock worth $1,151,000 after buying an additional 361 shares in the last quarter. Trexquant Investment LP purchased a new stake in Middleby during the 4th quarter valued at about $1,178,000. Assetmark Inc. grew its stake in Middleby by 1,158.3% during the 4th quarter. Assetmark Inc. now owns 453 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 417 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in Middleby by 33.3% in the 4th quarter. Neuberger Berman Group LLC now owns 5,601 shares of the industrial products company’s stock valued at $824,000 after acquiring an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MIDD shares. Canaccord Genuity Group restated a “buy” rating and issued a $164.00 price target on shares of Middleby in a research report on Saturday, September 14th. Robert W. Baird raised their target price on 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. upped their price objective on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. KeyCorp reduced their target price on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Raymond James assumed coverage on shares of Middleby in a report on Friday, June 28th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Middleby Stock Down 2.0 %

Shares of NASDAQ MIDD opened at $141.31 on Friday. The Middleby Co. has a 52-week low of $109.59 and a 52-week high of $161.01. The business’s 50 day moving average is $135.88 and its two-hundred day moving average is $137.04. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 19.68 and a beta of 1.58. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 0.69.

Middleby (NASDAQ:MIDD) last posted its earnings results 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. The firm had revenue of $991.55 million for the quarter, compared to analyst estimates of $994.05 million. Middleby had a return on equity of 15.25% and a net margin of 9.90%. Middleby’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. Research analysts predict that The Middleby Co. will post 9.66 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.