The Middleby Corporation (MIDD) Shares Sold by Alliancebernstein L.P.
Alliancebernstein L.P. cut its position in The Middleby Corporation (NASDAQ:MIDD) by 22.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 650,782 shares of the industrial products company’s stock after selling 189,568 shares during the quarter. Alliancebernstein L.P. owned approximately 1.13% of The Middleby Corporation worth $79,077,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. HPM Partners LLC grew its stake in The Middleby Corporation by 4,156.6% in the 2nd quarter. HPM Partners LLC now owns 183,458 shares of the industrial products company’s stock valued at $12,646,000 after buying an additional 179,148 shares during the last quarter. AXA grew its stake in The Middleby Corporation by 1.2% in the 2nd quarter. AXA now owns 8,424 shares of the industrial products company’s stock valued at $1,024,000 after buying an additional 100 shares during the last quarter. Private Advisor Group LLC grew its stake in The Middleby Corporation by 25.0% in the 2nd quarter. Private Advisor Group LLC now owns 6,256 shares of the industrial products company’s stock valued at $746,000 after buying an additional 1,253 shares during the last quarter. Chatham Capital Group Inc. grew its stake in The Middleby Corporation by 8.4% in the 2nd quarter. Chatham Capital Group Inc. now owns 5,985 shares of the industrial products company’s stock valued at $727,000 after buying an additional 462 shares during the last quarter. Finally, Fiduciary Trust Co. acquired a new position in The Middleby Corporation in the 2nd quarter valued at $143,000. Institutional investors and hedge funds own 95.34% of the company’s stock.
Shares of The Middleby Corporation (MIDD) opened at 121.40 on Wednesday. The Middleby Corporation has a one year low of $108.45 and a one year high of $150.87. The company has a market capitalization of $6.99 billion, a P/E ratio of 22.74 and a beta of 1.81. The firm has a 50-day moving average of $123.05 and a 200-day moving average of $130.08.
The Middleby Corporation (NASDAQ:MIDD) last released its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.01. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. The firm had revenue of $579.34 million for the quarter, compared to the consensus estimate of $587.49 million. Equities research analysts expect that The Middleby Corporation will post $5.61 EPS for the current fiscal year.
A number of analysts have weighed in on MIDD shares. BidaskClub downgraded shares of The Middleby Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Robert W. Baird reduced their price target on shares of The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Friday, August 11th. BMO Capital Markets reissued a “buy” rating and issued a $150.00 price target (down from $155.00) on shares of The Middleby Corporation in a report on Friday, June 23rd. Citigroup Inc. reissued a “neutral” rating and issued a $130.00 price target on shares of The Middleby Corporation in a report on Thursday, September 7th. Finally, Zacks Investment Research downgraded shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One investment 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. The company currently has an average rating of “Hold” and a consensus price target of $142.71.
In other The Middleby Corporation news, Director John R. Miller III sold 8,500 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $118.50, for a total value of $1,007,250.00. Following the transaction, the director now directly owns 16,000 shares in the company, valued at $1,896,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by insiders.
The Middleby Corporation Profile
The Middleby Corporation 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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