Sequoia Financial Advisors LLC Takes $254,000 Position in The Middleby Corporation $MIDD

Sequoia Financial Advisors LLC acquired a new stake in The Middleby Corporation (NASDAQ:MIDD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,762 shares of the industrial products company’s stock, valued at approximately $254,000.

A number of other large investors also recently modified their holdings of the company. Leith Wheeler Investment Counsel Ltd. boosted its position in shares of Middleby by 200.0% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 200,409 shares of the industrial products company’s stock valued at $28,859,000 after acquiring an additional 133,608 shares during the period. Trust Co. of Toledo NA OH bought a new position in shares of Middleby in the second quarter valued at approximately $47,000. Inspire Investing LLC purchased a new stake in Middleby in the second quarter valued at approximately $281,000. Blue Trust Inc. raised its stake in Middleby by 5.1% in the second quarter. Blue Trust Inc. now owns 5,419 shares of the industrial products company’s stock valued at $780,000 after purchasing an additional 262 shares in the last quarter. Finally, Optas LLC purchased a new stake in Middleby in the second quarter valued at approximately $255,000. 98.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MIDD has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Zacks Research raised shares of Middleby to a “strong sell” rating in a research note on Monday, August 11th. Wolfe Research set a $163.00 target price on shares of Middleby and gave the company an “outperform” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Middleby in a research note on Wednesday, October 8th. Finally, Barclays reaffirmed an “overweight” rating and issued a $180.00 target price (up from $165.00) on shares of Middleby in a research note on Monday. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Middleby presently has an average rating of “Hold” and an average price target of $165.00.

Middleby Stock Down 1.9%

Shares of Middleby stock opened at $132.83 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.56 and a current ratio of 2.57. The Middleby Corporation has a 52-week low of $118.09 and a 52-week high of $182.73. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 16.90 and a beta of 1.52. The company’s 50 day moving average price is $135.22 and its 200-day moving average price is $139.04.

Middleby (NASDAQ:MIDD) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $979.59 million. During the same quarter last year, the business earned $2.39 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that The Middleby Corporation will post 9.11 EPS for the current year.

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.