The Middleby Co. (NASDAQ:MIDD) Shares Acquired by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC increased its position in shares of The Middleby Co. (NASDAQ:MIDD) by 0.4% in the third quarter, HoldingsChannel.com reports. The firm owned 50,170 shares of the industrial products company’s stock after acquiring an additional 195 shares during the quarter. Middleby comprises 1.4% of Hunter Perkins Capital Management LLC’s holdings, making the stock its 25th largest position. Hunter Perkins Capital Management LLC’s holdings in Middleby were worth $6,980,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Select Equity Group L.P. lifted its position in shares of Middleby by 15.4% during the 2nd quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock worth $779,835,000 after buying an additional 846,884 shares during the last quarter. Vanguard Group Inc. grew its stake in Middleby by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock worth $822,165,000 after buying an additional 15,798 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in Middleby by 1.0% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock worth $321,342,000 after buying an additional 20,511 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Middleby by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,450,221 shares of the industrial products company’s stock valued at $233,182,000 after buying an additional 11,552 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Middleby by 11,853.1% in the second quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company’s stock valued at $118,609,000 after acquiring an additional 959,272 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Up 1.6 %

Middleby stock traded up $2.18 during midday trading on Wednesday, hitting $140.01. 90,415 shares of the company were exchanged, compared to its average volume of 486,235. The company has a market cap of $7.53 billion, a PE ratio of 19.20 and a beta of 1.58. The Middleby Co. has a fifty-two week low of $109.59 and a fifty-two week high of $161.01. The company’s fifty day moving average price is $137.24 and its 200-day moving average price is $134.75. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43.

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. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The business had revenue of $991.55 million during the quarter, compared to the consensus estimate of $994.05 million. During the same period in the prior year, the firm earned $2.47 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, research analysts predict that The Middleby Co. will post 9.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MIDD shares. Raymond James started coverage on shares of Middleby in a research report on Friday, June 28th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. boosted their target price on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. Robert W. Baird boosted their price objective on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, KeyCorp reduced their target price on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $156.71.

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.