The Middleby Corporation (MIDD) Position Lifted by HighTower Advisors LLC

HighTower Advisors LLC increased its position in The Middleby Corporation (NASDAQ:MIDD) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,161 shares of the industrial products company’s stock after buying an additional 234 shares during the period. HighTower Advisors LLC’s holdings in The Middleby Corporation were worth $986,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in The Middleby Corporation by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,541,273 shares of the industrial products company’s stock worth $551,811,000 after buying an additional 54,010 shares during the period. BlackRock Inc. boosted its holdings in The Middleby Corporation by 2.7% in the 2nd quarter. BlackRock Inc. now owns 2,701,818 shares of the industrial products company’s stock worth $328,297,000 after buying an additional 69,896 shares during the period. Fiera Capital Corp boosted its holdings in The Middleby Corporation by 19.3% in the 2nd quarter. Fiera Capital Corp now owns 2,480,553 shares of the industrial products company’s stock worth $301,412,000 after buying an additional 401,561 shares during the period. William Blair Investment Management LLC boosted its holdings in The Middleby Corporation by 40.4% in the 2nd quarter. William Blair Investment Management LLC now owns 1,809,903 shares of the industrial products company’s stock worth $219,921,000 after buying an additional 520,906 shares during the period. Finally, CI Global Investments Inc. boosted its holdings in The Middleby Corporation by 11.9% in the 2nd quarter. CI Global Investments Inc. now owns 1,490,255 shares of the industrial products company’s stock worth $181,081,000 after buying an additional 157,962 shares during the period. 95.22% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “The Middleby Corporation (MIDD) Position Lifted by HighTower Advisors LLC” was first reported by Stock Observer and is the property of of Stock Observer. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://www.thestockobserver.com/2017/10/13/the-middleby-corporation-midd-position-lifted-by-hightower-advisors-llc.html.

MIDD has been the subject of several recent analyst reports. BidaskClub downgraded shares of The Middleby Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $150.00 target price (down previously from $155.00) on shares of The Middleby Corporation in a report on Friday, June 23rd. Seaport Global Securities initiated coverage on shares of The Middleby Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $128.00 target price for the company. Zacks Investment Research downgraded shares of The Middleby Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Wellington Shields raised shares of The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The Middleby Corporation has an average rating of “Hold” and an average price target of $142.50.

The Middleby Corporation (NASDAQ:MIDD) opened at 122.77 on Friday. The company has a market cap of $7.07 billion, a P/E ratio of 22.99 and a beta of 1.82. The Middleby Corporation has a 12-month low of $108.45 and a 12-month high of $150.87. The firm’s 50 day moving average is $122.74 and its 200 day moving average is $127.90.

The Middleby Corporation (NASDAQ:MIDD) last announced its earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.01. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. The business had revenue of $579.34 million for the quarter, compared to analyst estimates of $587.49 million. Equities research analysts anticipate that The Middleby Corporation will post $5.59 EPS for the current fiscal year.

In other news, Director John R. Miller III sold 8,500 shares of The Middleby Corporation stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $118.50, for a total value of $1,007,250.00. Following the sale, the director now owns 16,000 shares in the company, valued at $1,896,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gordon Obrien sold 5,600 shares of The Middleby Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $121.41, for a total transaction of $679,896.00. Following the completion of the sale, the director now owns 11,050 shares in the company, valued at approximately $1,341,580.50. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

The Middleby Corporation Company Profile

The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.

Institutional Ownership by Quarter for The Middleby Corporation (NASDAQ:MIDD)

Receive News & Ratings for The Middleby Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Middleby Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply