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

Separately, Zacks Investment Research raised The Middleby Corp. from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a research note on Monday, May 23rd. Five research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $127.75.

The company has a 50-day moving average price of $118.98 and a 200-day moving average price of $109.71. The firm has a market cap of $7.34 billion and a P/E ratio of 32.13.

The Middleby Corp. (NASDAQ:MIDD) last released its quarterly earnings data on Wednesday, August 10th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.17. On average, equities research analysts expect that The Middleby Corp. will post $4.80 EPS for the current year.

Several institutional investors have 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 worth $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 worth $110,650,000 after buying an additional 248,921 shares during the period. Nicholas Co. Inc. WI raised its position in shares of The Middleby Corp. by 10.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 53,395 shares of the company’s stock worth $5,759,000 after buying an additional 5,000 shares during the period. Marshall Wace LLP purchased a new position in shares of The Middleby Corp. during the fourth quarter worth $2,465,000. Finally, 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 worth $3,329,000 after buying an additional 28,554 shares during the period.

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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