Oppenheimer Asset Management Inc. Invests $2.22 Million in The Middleby Co. (NASDAQ:MIDD)

Oppenheimer Asset Management Inc. acquired a new position in The Middleby Co. (NASDAQ:MIDD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,957 shares of the industrial products company's stock, valued at approximately $2,220,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. grew its position in Middleby by 15.4% during the second quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company's stock valued at $779,835,000 after buying an additional 846,884 shares during the period. Vanguard Group Inc. raised its holdings in Middleby by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company's stock valued at $822,165,000 after acquiring an additional 15,798 shares during the period. EdgePoint Investment Group Inc. boosted its stake in Middleby by 1.0% in the 1st quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company's stock worth $321,342,000 after purchasing an additional 20,511 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Middleby by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,450,221 shares of the industrial products company's stock worth $233,182,000 after purchasing an additional 11,552 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Middleby by 11,853.1% during the second quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company's stock valued at $118,609,000 after purchasing an additional 959,272 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MIDD shares. JPMorgan Chase & Co. raised their price target on shares of Middleby from $118.00 to $120.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on Middleby from $155.00 to $169.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Canaccord Genuity Group reissued a "buy" rating and issued a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. Canaccord Genuity Group decreased their price objective on shares of Middleby from $164.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Middleby from a "hold" rating to a "buy" rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $154.67.

Middleby Stock Performance

Shares of Middleby stock traded up $0.32 during trading hours on Friday, hitting $136.00. 555,034 shares of the company were exchanged, compared to its average volume of 700,569. The business has a 50-day moving average of $136.95 and a 200-day moving average of $133.41. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 18.76 and a beta of 1.58. 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 Middleby Co. has a 1 year low of $118.41 and a 1 year high of $161.01.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). The firm had revenue of $942.81 million for the quarter, compared to analysts' expectations of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business's quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.35 EPS. As a group, analysts expect that The Middleby Co. will post 9.2 EPS for the current fiscal year.

About Middleby

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.