Stephens Investment Management Group LLC Has $19.30 Million Stake in Middleby Corp (NASDAQ:MIDD)

Stephens Investment Management Group LLC raised its position in Middleby Corp (NASDAQ:MIDD) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,254 shares of the industrial products company’s stock after purchasing an additional 2,196 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Middleby were worth $19,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in Middleby by 136.5% during the first quarter. Wells Fargo & Company MN now owns 858,495 shares of the industrial products company’s stock worth $111,630,000 after acquiring an additional 495,516 shares during the last quarter. Columbus Circle Investors acquired a new stake in Middleby during the first quarter worth approximately $37,823,000. Janus Henderson Group PLC lifted its position in Middleby by 5.4% during the second quarter. Janus Henderson Group PLC now owns 2,559,406 shares of the industrial products company’s stock worth $347,311,000 after acquiring an additional 130,433 shares during the last quarter. Westwood Management Corp IL acquired a new stake in Middleby during the first quarter worth approximately $14,069,000. Finally, SG Americas Securities LLC lifted its position in Middleby by 6,813.1% during the first quarter. SG Americas Securities LLC now owns 97,336 shares of the industrial products company’s stock worth $12,657,000 after acquiring an additional 95,928 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Shares of NASDAQ MIDD traded up $1.24 during midday trading on Friday, reaching $111.30. The company’s stock had a trading volume of 4,253 shares, compared to its average volume of 516,130. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.95 and a current ratio of 2.10. Middleby Corp has a fifty-two week low of $96.65 and a fifty-two week high of $142.98. The business’s 50 day moving average price is $131.45 and its two-hundred day moving average price is $130.62. The company has a market cap of $6.13 billion, a P/E ratio of 18.24 and a beta of 1.60.



Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.07). Middleby had a net margin of 11.27% and a return on equity of 21.17%. The business had revenue of $761.00 million during the quarter, compared to analyst estimates of $774.13 million. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. Sell-side analysts forecast that Middleby Corp will post 6.58 earnings per share for the current fiscal year.

In other Middleby news, Director Robert A. Nerbonne purchased 455 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $111.21 per share, for a total transaction of $50,600.55. Following the completion of the transaction, the director now owns 1,282 shares in the company, valued at $142,571.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert A. Nerbonne purchased 450 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $113.85 per share, with a total value of $51,232.50. Following the completion of the transaction, the director now owns 1,282 shares of the company’s stock, valued at approximately $145,955.70. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Several brokerages have issued reports on MIDD. Citigroup cut their price objective on shares of Middleby from $138.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday. ValuEngine downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded shares of Middleby from a “sell” rating to a “hold” rating and set a $118.00 price objective for the company in a research report on Wednesday. Buckingham Research set a $153.00 price objective on shares of Middleby and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, BidaskClub downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $140.43.

About Middleby

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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