The Middleby Corp. (NASDAQ:MIDD) shares were down 1.2% during mid-day trading on Monday . The company traded as low as $127.43 and last traded at $128.96, with a volume of 296,741 shares traded. The stock had previously closed at $130.55.

Separately, Zacks Investment Research raised shares of The Middleby Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The Middleby Corp. currently has a consensus rating of “Buy” and a consensus price target of $125.00.

The firm has a 50 day moving average of $118.45 and a 200-day moving average of $109.43. The company has a market cap of $7.39 billion and a P/E ratio of 32.66.

The Middleby Corp. (NASDAQ:MIDD) last announced its earnings results on Wednesday, August 10th. The company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.17. On average, analysts expect that The Middleby Corp. will post $4.71 earnings per share for the current year.

A number of hedge funds and institutional investors recently made changes to their positions in the company. RS Investment Management Co. LLC raised its position in shares of The Middleby Corp. by 716.0% in the fourth quarter. RS Investment Management Co. LLC now owns 302,500 shares of the company’s stock valued at $32,631,000 after buying an additional 265,430 shares during the period. Westfield Capital Management Co. LP raised its position in shares of The Middleby Corp. by 32.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,025,770 shares of the company’s stock valued at $110,650,000 after buying an additional 248,921 shares during the period. Wells Fargo & Company MN raised its position in shares of The Middleby Corp. by 35.7% in the fourth quarter. Wells Fargo & Company MN now owns 398,055 shares of the company’s stock valued at $42,938,000 after buying an additional 104,818 shares during the period. Bank of Montreal Can raised its position in shares of The Middleby Corp. by 1,240.9% in the fourth quarter. Bank of Montreal Can now owns 30,855 shares of the company’s stock valued at $3,329,000 after buying an additional 28,554 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of The Middleby Corp. during the fourth quarter valued at $2,465,000.

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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