BB&T Corp cut its position in The Middleby Corporation (NASDAQ:MIDD) by 14.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,820 shares of the industrial products company’s stock after selling 308 shares during the period. BB&T Corp’s holdings in The Middleby Corporation were worth $221,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of MIDD. Bronfman E.L. Rothschild L.P. boosted its stake in shares of The Middleby Corporation by 0.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,029 shares of the industrial products company’s stock worth $140,000 after buying an additional 9 shares in the last quarter. First National Bank of Hutchinson boosted its stake in shares of The Middleby Corporation by 0.4% in the first quarter. First National Bank of Hutchinson now owns 4,706 shares of the industrial products company’s stock worth $642,000 after buying an additional 18 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in shares of The Middleby Corporation by 1.5% in the first quarter. Jaffetilchin Investment Partners LLC now owns 2,373 shares of the industrial products company’s stock worth $324,000 after buying an additional 36 shares in the last quarter. Keybank National Association OH boosted its stake in shares of The Middleby Corporation by 0.6% in the first quarter. Keybank National Association OH now owns 7,058 shares of the industrial products company’s stock worth $963,000 after buying an additional 39 shares in the last quarter. Finally, Intrust Bank NA boosted its stake in shares of The Middleby Corporation by 1.3% in the first quarter. Intrust Bank NA now owns 3,254 shares of the industrial products company’s stock worth $445,000 after buying an additional 41 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors.
Shares of The Middleby Corporation (NASDAQ:MIDD) traded down 0.66% during midday trading on Friday, reaching $128.92. The company had a trading volume of 223,423 shares. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 24.51 and a beta of 1.82. The Middleby Corporation has a 12-month low of $108.45 and a 12-month high of $150.87. The company has a 50 day moving average of $125.96 and a 200 day moving average of $132.97.
The Middleby Corporation (NASDAQ:MIDD) last posted its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.12. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%. The firm had revenue of $530.30 million for the quarter, compared to analysts’ expectations of $542.50 million. Analysts anticipate that The Middleby Corporation will post $5.67 EPS for the current year.
A number of equities research analysts recently issued reports on the company. BidaskClub upgraded The Middleby Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a research note on Tuesday, July 18th. BMO Capital Markets restated a “buy” rating and issued a $150.00 price objective (down from $155.00) on shares of The Middleby Corporation in a research note on Friday, June 23rd. Wellington Shields upgraded The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a research note on Tuesday, July 11th. Finally, Seaport Global Securities assumed coverage on The Middleby Corporation in a research note on Thursday, June 29th. They issued a “neutral” rating and a $128.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The Middleby Corporation has an average rating of “Hold” and a consensus price target of $141.67.
About The Middleby Corporation
The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.
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