The Middleby Co. (NASDAQ:MIDD) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in The Middleby Co. (NASDAQ:MIDD) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 936,596 shares of the industrial products company’s stock after purchasing an additional 8,926 shares during the quarter. Geode Capital Management LLC owned approximately 1.74% of Middleby worth $130,341,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MIDD. Quarry LP boosted its holdings in Middleby by 133.3% in the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 132 shares during the period. Covestor Ltd lifted its holdings in Middleby by 306.5% in the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 190 shares during the last quarter. UMB Bank n.a. boosted its stake in Middleby by 93.2% in the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 136 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Middleby during the second quarter valued at approximately $45,000. Finally, Avior Wealth Management LLC raised its position in shares of Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 287 shares during the period. Institutional investors own 98.55% of the company’s stock.

Middleby Trading Down 0.7 %

Shares of NASDAQ:MIDD opened at $135.96 on Wednesday. The company has a 50 day moving average of $138.85 and a 200-day moving average of $134.66. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The firm has a market cap of $7.31 billion, a P/E ratio of 18.75 and a beta of 1.60. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $161.01.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. During the same period in the previous year, the business posted $2.35 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, analysts anticipate that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a research note on Saturday, September 14th. Jefferies Financial Group restated a “hold” rating and set a $160.00 price target (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Canaccord Genuity Group decreased their target price on shares of Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $154.67.

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.