Middleby Corp (NASDAQ:MIDD) Holdings Trimmed by Townsquare Capital LLC

Townsquare Capital LLC reduced its position in shares of Middleby Corp (NASDAQ:MIDD) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,736 shares of the industrial products company’s stock after selling 297 shares during the period. Townsquare Capital LLC’s holdings in Middleby were worth $435,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Fiera Capital Corp raised its position in Middleby by 4.1% in the first quarter. Fiera Capital Corp now owns 3,500,742 shares of the industrial products company’s stock worth $199,124,000 after acquiring an additional 137,524 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Middleby by 30.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,015,242 shares of the industrial products company’s stock worth $171,507,000 after buying an additional 704,112 shares during the period. Bank of Nova Scotia raised its holdings in Middleby by 459.4% during the 2nd quarter. Bank of Nova Scotia now owns 2,791,386 shares of the industrial products company’s stock worth $220,352,000 after buying an additional 2,292,381 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in Middleby by 34.2% during the 1st quarter. ArrowMark Colorado Holdings LLC now owns 1,434,904 shares of the industrial products company’s stock worth $81,617,000 after buying an additional 365,896 shares during the period. Finally, State Street Corp raised its holdings in Middleby by 1.2% during the 1st quarter. State Street Corp now owns 1,187,851 shares of the industrial products company’s stock worth $67,565,000 after buying an additional 13,836 shares during the period.

MIDD has been the topic of several recent analyst reports. BidaskClub upgraded Middleby from a “sell” rating to a “hold” rating in a report on Friday, July 17th. CL King began coverage on Middleby in a report on Tuesday, June 2nd. They set a “buy” rating and a $86.00 price objective on the stock. ValuEngine upgraded Middleby from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Citigroup upped their target price on Middleby from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Finally, BMO Capital Markets upped their target price on Middleby from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $98.20.

Shares of NASDAQ MIDD traded up $0.22 during trading hours on Tuesday, hitting $99.03. The stock had a trading volume of 120 shares, compared to its average volume of 1,104,754. The company has a market capitalization of $5.50 billion, a P/E ratio of 19.19 and a beta of 1.66. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.07 and a current ratio of 3.27. The firm’s 50-day moving average price is $95.54 and its two-hundred day moving average price is $76.87. Middleby Corp has a 52 week low of $41.73 and a 52 week high of $128.48.

Middleby (NASDAQ:MIDD) last announced its earnings results on Wednesday, August 5th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The firm had revenue of $472.00 million during the quarter, compared to analysts’ expectations of $445.90 million. Middleby had a return on equity of 16.66% and a net margin of 10.75%. The company’s revenue was down 38.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 earnings per share. As a group, analysts expect that Middleby Corp will post 4.26 EPS for the current fiscal year.

Middleby Profile

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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