Mirae Asset Global Investments Co. Ltd. Purchases Shares of 505 The Middleby Co. (NASDAQ:MIDD)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of The Middleby Co. (NASDAQ:MIDD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 505 shares of the industrial products company’s stock, valued at approximately $72,000.

A number of other hedge funds have also made changes to their positions in MIDD. Assenagon Asset Management S.A. bought a new stake in shares of Middleby in the third quarter worth $3,834,000. International Assets Investment Management LLC increased its position in shares of Middleby by 13,813.0% in the 3rd quarter. International Assets Investment Management LLC now owns 15,026 shares of the industrial products company’s stock worth $2,091,000 after purchasing an additional 14,918 shares during the last quarter. Greenleaf Trust raised its stake in shares of Middleby by 8.1% in the 3rd quarter. Greenleaf Trust now owns 1,936 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 145 shares in the last quarter. Oldfield Partners LLP lifted its position in shares of Middleby by 1.5% during the third quarter. Oldfield Partners LLP now owns 332,473 shares of the industrial products company’s stock worth $46,257,000 after purchasing an additional 4,837 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. grew its stake in Middleby by 6.6% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 225,210 shares of the industrial products company’s stock worth $31,333,000 after purchasing an additional 13,935 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of Middleby stock opened at $134.14 on Tuesday. The stock has a market cap of $7.21 billion, a PE ratio of 18.50 and a beta of 1.58. The Middleby Co. has a 12 month low of $113.77 and a 12 month high of $161.01. The company has a quick ratio of 1.43, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $136.96 and a 200-day simple moving average of $133.62.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $942.81 million for the quarter, compared to analysts’ expectations of $996.60 million. During the same period in the previous year, the firm posted $2.35 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that The Middleby Co. will post 9.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MIDD shares. Robert W. Baird raised their target price on shares of Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday. Canaccord Genuity Group cut their price target on Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Middleby currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.67.

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.