CIBC Asset Management Inc Has $224,000 Stake in The Middleby Co. (NASDAQ:MIDD)

CIBC Asset Management Inc increased its position in shares of The Middleby Co. (NASDAQ:MIDD) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,651 shares of the industrial products company’s stock after buying an additional 81 shares during the period. CIBC Asset Management Inc’s holdings in Middleby were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd increased its holdings in Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC boosted its position in Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 287 shares during the period. UMB Bank n.a. boosted its position in Middleby by 41.1% during the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 116 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Middleby during the third quarter worth $72,000. Finally, Principal Securities Inc. boosted its position in Middleby by 16.0% during the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 78 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on MIDD. KeyCorp lifted their price objective on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. StockNews.com cut shares of Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Robert W. Baird boosted their target price on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Canaccord Genuity Group boosted their price target on Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their target price on Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $178.83.

Middleby Price Performance

Shares of MIDD opened at $169.25 on Wednesday. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $182.73. The business’s fifty day moving average is $151.72 and its 200 day moving average is $143.00. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The stock has a market cap of $9.10 billion, a P/E ratio of 23.34 and a beta of 1.64.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.38. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. Middleby’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.65 EPS. Sell-side analysts anticipate that The Middleby Co. will post 9.11 earnings per share for the current fiscal 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.