AdvisorShares Investments LLC Invests $37,000 in The Middleby Corporation $MIDD

AdvisorShares Investments LLC bought a new position in shares of The Middleby Corporation (NASDAQ:MIDD) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 259 shares of the industrial products company’s stock, valued at approximately $37,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MIDD. GAMMA Investing LLC raised its position in shares of Middleby by 44.9% during the 1st quarter. GAMMA Investing LLC now owns 901 shares of the industrial products company’s stock worth $137,000 after acquiring an additional 279 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Middleby by 10.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,564 shares of the industrial products company’s stock worth $694,000 after acquiring an additional 415 shares in the last quarter. Teacher Retirement System of Texas increased its position in Middleby by 30.3% during the first quarter. Teacher Retirement System of Texas now owns 13,380 shares of the industrial products company’s stock worth $2,033,000 after buying an additional 3,111 shares during the period. Oregon Public Employees Retirement Fund increased its position in Middleby by 0.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 11,020 shares of the industrial products company’s stock worth $1,675,000 after buying an additional 100 shares during the period. Finally, Principal Financial Group Inc. increased its position in Middleby by 0.3% during the first quarter. Principal Financial Group Inc. now owns 123,761 shares of the industrial products company’s stock worth $18,809,000 after buying an additional 402 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Trading Up 0.9%

Shares of MIDD stock opened at $124.23 on Friday. The business’s 50 day moving average is $134.65 and its two-hundred day moving average is $138.87. The Middleby Corporation has a twelve month low of $118.09 and a twelve month high of $182.73. The company has a market capitalization of $6.30 billion, a P/E ratio of 15.81 and a beta of 1.52. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64.

Middleby (NASDAQ:MIDD) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.15. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The company had revenue of $977.86 million for the quarter, compared to the consensus estimate of $979.59 million. During the same period last year, the business posted $2.39 EPS. The company’s revenue was down 1.4% on a year-over-year basis. Equities analysts forecast that The Middleby Corporation will post 9.11 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on MIDD shares. Wolfe Research set a $163.00 price target on Middleby and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Canaccord Genuity Group lifted their price target on Middleby from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Zacks Research raised Middleby from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Barclays reaffirmed an “overweight” rating and set a $180.00 price target (up previously from $165.00) on shares of Middleby in a research report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Middleby in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $165.00.

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.