Swiss National Bank Purchases 1,200 Shares of The Middleby Co. (NASDAQ:MIDD)

Posted by on May 13th, 2023

Swiss National Bank grew its position in shares of The Middleby Co. (NASDAQ:MIDD – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,700 shares of the industrial products company’s stock after acquiring an additional 1,200 shares during the quarter. Swiss National Bank owned 0.23% of Middleby worth $16,563,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. IFP Advisors Inc boosted its holdings in Middleby by 34.1% during the fourth quarter. IFP Advisors Inc now owns 307 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 78 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Middleby by 21.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 545 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 97 shares in the last quarter. Profund Advisors LLC raised its holdings in Middleby by 4.9% during the fourth quarter. Profund Advisors LLC now owns 2,115 shares of the industrial products company’s stock worth $283,000 after acquiring an additional 99 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Middleby by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 14,400 shares of the industrial products company’s stock valued at $1,928,000 after purchasing an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in Middleby by 0.7% in the fourth quarter. State of Michigan Retirement System now owns 13,720 shares of the industrial products company’s stock valued at $1,837,000 after purchasing an additional 100 shares in the last quarter. 98.48% of the stock is owned by institutional investors.

Middleby Price Performance

Shares of NASDAQ MIDD opened at $140.03 on Friday. The firm has a market cap of $7.52 billion, a P/E ratio of 17.59 and a beta of 1.52. The business’s 50 day moving average is $141.65 and its 200-day moving average is $143.14. The company has a current ratio of 2.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.96. The Middleby Co. has a 1-year low of $120.30 and a 1-year high of $162.02.

Middleby (NASDAQ:MIDD – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.11. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Middleby had a return on equity of 19.46% and a net margin of 10.82%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.11 EPS. Equities research analysts predict that The Middleby Co. will post 9.8 earnings per share for the current year.

Insiders Place Their Bets

In other Middleby news, Director Chapin Sarah Palisi sold 300 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $157.39, for a total transaction of $47,217.00. Following the transaction, the director now owns 7,506 shares in the company, valued at approximately $1,181,369.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MIDD. Robert W. Baird increased their price objective on Middleby from $140.00 to $174.00 and gave the company an “outperform” rating in a report on Tuesday, January 24th. KeyCorp lifted their price objective on shares of Middleby from $175.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, February 22nd. Barclays upped their target price on shares of Middleby from $175.00 to $177.00 and gave the company an “overweight” rating in a report on Friday, January 13th. Canaccord Genuity Group lifted their price target on Middleby from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Finally, TheStreet upgraded Middleby from a “c+” rating to a “b-” rating in a research note on Tuesday, February 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Middleby presently has an average rating of “Moderate Buy” and an average target price of $168.14.

Middleby Profile

(Get Rating)

The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.

See Also

Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.