GHP Investment Advisors Inc. Boosts Holdings in The Middleby Co. (NASDAQ:MIDD)

GHP Investment Advisors Inc. raised its position in The Middleby Co. (NASDAQ:MIDD) by 4,691.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,099 shares of the industrial products company’s stock after acquiring an additional 15,763 shares during the period. GHP Investment Advisors Inc.’s holdings in Middleby were worth $1,974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Middleby by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 330,436 shares of the industrial products company’s stock valued at $48,630,000 after purchasing an additional 8,018 shares during the period. Principal Securities Inc. acquired a new stake in shares of Middleby in the 4th quarter valued at approximately $185,000. Dimensional Fund Advisors LP boosted its stake in shares of Middleby by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 617,974 shares of the industrial products company’s stock valued at $90,953,000 after buying an additional 13,632 shares in the last quarter. Trillium Asset Management LLC grew its holdings in Middleby by 11.0% during the fourth quarter. Trillium Asset Management LLC now owns 54,931 shares of the industrial products company’s stock worth $8,084,000 after acquiring an additional 5,437 shares during the period. Finally, Norges Bank purchased a new position in Middleby in the fourth quarter worth $16,199,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $132.80 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43. The company has a market cap of $7.14 billion, a PE ratio of 18.50 and a beta of 1.58. The company has a 50-day simple moving average of $134.14 and a 200-day simple moving average of $137.58. 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 quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The business had revenue of $991.55 million during the quarter, compared to the consensus estimate of $994.05 million. During the same quarter in the previous year, the business earned $2.47 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities analysts anticipate that The Middleby Co. will post 9.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MIDD shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $164.00 price target on shares of Middleby in a research note on Saturday. Raymond James initiated coverage on shares of Middleby in a research report on Friday, June 28th. They set a “market perform” rating for the company. Robert W. Baird upped their price target on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Finally, KeyCorp lowered their target price on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Middleby Company 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.