The Middleby Corp. (MIDD) Position Cut by Emerald Advisers Inc. PA
Emerald Advisers Inc. PA decreased its stake in The Middleby Corp. (NASDAQ:MIDD) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 46,915 shares of the company’s stock after selling 449 shares during the period. Emerald Advisers Inc. PA’s holdings in The Middleby Corp. were worth $5,407,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Motley Fool Wealth Management LLC raised its position in The Middleby Corp. by 2.5% in the first quarter. Motley Fool Wealth Management LLC now owns 152,004 shares of the company’s stock valued at $16,229,000 after buying an additional 3,722 shares in the last quarter. State Street Corp raised its position in The Middleby Corp. by 3.9% in the first quarter. State Street Corp now owns 709,942 shares of the company’s stock valued at $75,801,000 after buying an additional 26,405 shares in the last quarter. Cupps Capital Management LLC acquired a new position in The Middleby Corp. during the first quarter valued at $903,000. BB&T Securities LLC raised its position in The Middleby Corp. by 128.4% in the first quarter. BB&T Securities LLC now owns 13,420 shares of the company’s stock valued at $1,432,000 after buying an additional 7,544 shares in the last quarter. Finally, Ithaka Group LLC raised its position in The Middleby Corp. by 1.2% in the first quarter. Ithaka Group LLC now owns 132,265 shares of the company’s stock valued at $14,122,000 after buying an additional 1,630 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.
The Middleby Corp. (NASDAQ:MIDD) traded down 0.37% during mid-day trading on Friday, hitting $120.06. The company had a trading volume of 315,254 shares. The Middleby Corp. has a 12-month low of $79.11 and a 12-month high of $140.98. The company’s 50 day moving average price is $125.73 and its 200-day moving average price is $118.04. The firm has a market capitalization of $6.91 billion, a PE ratio of 30.24 and a beta of 1.45.
The Middleby Corp. (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.17. The Middleby Corp. had a return on equity of 20.50% and a net margin of 10.89%. On average, analysts forecast that The Middleby Corp. will post $4.80 EPS for the current fiscal year.
A number of analysts have recently commented on MIDD shares. Zacks Investment Research upgraded The Middleby Corp. from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, August 16th. Deutsche Bank AG started coverage on The Middleby Corp. in a report on Tuesday, September 6th. They issued a “hold” rating and a $123.00 price target on the stock. Finally, Wellington Shields upgraded The Middleby Corp. from a “hold” rating to an “accumulate” rating in a report on Friday, September 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $126.80.
About The Middleby Corp.
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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