Charles Schwab Investment Management Inc. Has $47.92 Million Stock Position in The Middleby Co. (NASDAQ:MIDD)

Charles Schwab Investment Management Inc. increased its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 344,391 shares of the industrial products company’s stock after acquiring an additional 2,676 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.64% of Middleby worth $47,915,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Quarry LP lifted its stake in Middleby by 133.3% during the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 132 shares during the last quarter. GAMMA Investing LLC raised 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 worth $31,000 after purchasing an additional 126 shares during the last quarter. Covestor Ltd lifted its position in shares of Middleby by 306.5% in the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 190 shares during the period. UMB Bank n.a. raised its stake in Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock worth $39,000 after buying an additional 136 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Middleby in the second quarter valued at $45,000. 98.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MIDD has been the topic of several research analyst reports. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group lowered their price objective on shares of Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $164.00 target price on shares of Middleby in a research note on Saturday, September 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.67.

Middleby Stock Up 1.2 %

Shares of NASDAQ MIDD opened at $143.39 on Monday. The firm’s fifty day moving average is $138.04 and its 200 day moving average is $133.56. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $161.01. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 19.78 and a beta of 1.58. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The firm had revenue of $942.81 million during the quarter, compared to analysts’ expectations of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.35 EPS. On average, equities research analysts expect that The Middleby Co. will post 9.12 earnings per share for the current year.

About Middleby

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.