Sarasin & Partners LLP Buys 14,413 Shares of The Middleby Co. (NASDAQ:MIDD)

Sarasin & Partners LLP grew its stake in The Middleby Co. (NASDAQ:MIDD) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 925,915 shares of the industrial products company’s stock after purchasing an additional 14,413 shares during the quarter. Sarasin & Partners LLP owned approximately 1.72% of Middleby worth $113,526,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Rise Advisors LLC bought a new position in Middleby during the first quarter worth about $25,000. Allspring Global Investments Holdings LLC raised its holdings in Middleby by 1,246.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 162 shares during the last quarter. Signaturefd LLC raised its holdings in Middleby by 230.1% during the 4th quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 168 shares during the last quarter. GAMMA Investing LLC raised its holdings in Middleby by 97.7% during the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 126 shares during the last quarter. Finally, Crewe Advisors LLC raised its holdings in Middleby by 620.0% during the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 310 shares during the last quarter. 98.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MIDD. Raymond James began coverage on shares of Middleby in a report on Friday, June 28th. They set a “market perform” rating for the company. KeyCorp lowered their price target on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Robert W. Baird lifted their price objective on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $159.00 price objective on shares of Middleby in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Middleby currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.71.

Middleby Stock Up 0.2 %

Shares of MIDD stock traded up $0.34 on Friday, hitting $139.44. The stock had a trading volume of 448,743 shares, compared to its average volume of 476,506. The business has a 50 day moving average of $129.09 and a 200 day moving average of $138.79. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 19.42 and a beta of 1.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.28. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01.

Middleby (NASDAQ:MIDD) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. The company had revenue of $991.55 million during the quarter, compared to the consensus estimate of $994.05 million. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.47 earnings per share. As a group, analysts expect that The Middleby Co. will post 9.77 EPS for the current year.

Insider Activity at Middleby

In related news, Director John R. Miller III sold 2,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $126.32, for a total transaction of $252,640.00. Following the completion of the transaction, the director now owns 10,931 shares in the company, valued at $1,380,803.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.16% of the stock is owned by company insiders.

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.