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

Geode Capital Management LLC raised its stake in The Middleby Co. (NASDAQ:MIDD - Free Report) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 936,596 shares of the industrial products company's stock after acquiring an additional 8,926 shares during the quarter. Geode Capital Management LLC owned approximately 1.74% of Middleby worth $130,341,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. increased its stake in Middleby by 11,853.1% in 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. Select Equity Group L.P. increased its stake in Middleby by 15.4% in 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 purchasing an additional 846,884 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Middleby by 43.7% in the second quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company's stock valued at $110,768,000 after purchasing an additional 274,513 shares during the last quarter. Ariel Investments LLC increased its stake in Middleby by 58.0% in the second quarter. Ariel Investments LLC now owns 510,127 shares of the industrial products company's stock valued at $62,547,000 after purchasing an additional 187,304 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Middleby by 30.6% in the second quarter. Principal Financial Group Inc. now owns 713,618 shares of the industrial products company's stock valued at $87,497,000 after purchasing an additional 167,298 shares during the last quarter. 98.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Canaccord Genuity Group reiterated a "buy" rating and issued a $164.00 target price on shares of Middleby in a research note on Saturday, September 14th. StockNews.com upgraded Middleby from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Canaccord Genuity Group dropped their price target on Middleby from $164.00 to $155.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Jefferies Financial Group restated a "hold" rating and set a $160.00 price target (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $154.67.

Middleby Stock Up 0.6 %

Shares of NASDAQ MIDD traded up $0.87 on Wednesday, hitting $136.83. The company had a trading volume of 125,264 shares, compared to its average volume of 505,048. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $161.01. The business has a 50 day moving average of $138.85 and a two-hundred day moving average of $134.66. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $7.36 billion, a P/E ratio of 18.59 and a beta of 1.60.

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

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.