Yousif Capital Management LLC Sells 443 Shares of The Middleby Corporation $MIDD

Yousif Capital Management LLC decreased its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,804 shares of the industrial products company’s stock after selling 443 shares during the quarter. Yousif Capital Management LLC’s holdings in Middleby were worth $2,708,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC raised its holdings in Middleby by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Abound Wealth Management raised its holdings in Middleby by 157.5% during the 2nd quarter. Abound Wealth Management now owns 309 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 189 shares during the last quarter. Trust Co. of Toledo NA OH bought a new position in Middleby during the 2nd quarter worth approximately $47,000. Signaturefd LLC raised its holdings in Middleby by 23.7% during the 2nd quarter. Signaturefd LLC now owns 418 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 80 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Middleby by 90.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of MIDD stock opened at $133.39 on Friday. The firm has a market capitalization of $6.76 billion, a PE ratio of 16.97 and a beta of 1.52. The firm has a fifty day simple moving average of $134.93 and a two-hundred day simple moving average of $139.24. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64. The Middleby Corporation has a 12 month low of $118.09 and a 12 month high of $182.73.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.15. The business had revenue of $977.86 million during the quarter, compared to analyst estimates of $979.59 million. Middleby had a net margin of 11.06% and a return on equity of 14.14%. Middleby’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.39 EPS. Analysts forecast that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MIDD. Barclays lowered their price objective on shares of Middleby from $180.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. Wolfe Research set a $163.00 price objective on shares of Middleby and gave the company an “outperform” rating in a research note on Thursday, September 4th. Canaccord Genuity Group lifted their price objective on shares of Middleby from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Middleby from $125.00 to $140.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Zacks Research upgraded shares of Middleby to a “strong sell” rating in a research note on Monday, August 11th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $162.86.

Middleby 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.