First Citizens Bank & Trust Co. Buys 4,553 Shares of The Middleby Corporation $MIDD

First Citizens Bank & Trust Co. increased its holdings in The Middleby Corporation (NASDAQ:MIDD) by 271.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,233 shares of the industrial products company’s stock after acquiring an additional 4,553 shares during the period. First Citizens Bank & Trust Co.’s holdings in Middleby were worth $898,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MIDD. TCTC Holdings LLC raised its holdings in shares of Middleby by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 91 shares during the last quarter. Abound Wealth Management raised its holdings in shares of Middleby by 157.5% in the 2nd quarter. Abound Wealth Management now owns 309 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 189 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Middleby in the 2nd quarter worth about $47,000. Signaturefd LLC raised its holdings in shares of Middleby by 23.7% in the 2nd quarter. Signaturefd LLC now owns 418 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 80 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Middleby by 90.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 205 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MIDD. Wolfe Research set a $163.00 target price on shares of Middleby and gave the stock an “outperform” rating in a report on Thursday, September 4th. Weiss Ratings restated a “hold (c)” rating on shares of Middleby in a report on Wednesday, October 8th. Canaccord Genuity Group increased 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. Zacks Research upgraded shares of Middleby to a “strong sell” rating in a research note on Monday, August 11th. Finally, Wall Street Zen lowered shares of Middleby from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $165.00.

Middleby Trading Down 0.4%

NASDAQ:MIDD opened at $132.63 on Friday. The Middleby Corporation has a 52 week low of $118.09 and a 52 week high of $182.73. The firm has a 50-day moving average price of $135.20 and a two-hundred day moving average price of $139.11. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 16.87 and a beta of 1.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.56 and a current ratio of 2.57.

Middleby (NASDAQ:MIDD) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.15. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The firm had revenue of $977.86 million during the quarter, compared to the consensus estimate of $979.59 million. During the same period in the prior year, the firm earned $2.39 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts expect that The Middleby Corporation will post 9.11 earnings per share for the current fiscal year.

About Middleby

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.