Korea Investment CORP boosted its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 309.3% during the second quarter, Holdings Channel reports. The fund owned 30,700 shares of the industrial products company’s stock after buying an additional 23,200 shares during the period. Korea Investment CORP’s holdings in The Middleby Corporation were worth $3,730,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Whittier Trust Co. raised its position in shares of The Middleby Corporation by 4.8% in the first quarter. Whittier Trust Co. now owns 15,238 shares of the industrial products company’s stock worth $2,079,000 after buying an additional 692 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of The Middleby Corporation by 18.7% in the first quarter. Russell Investments Group Ltd. now owns 639,740 shares of the industrial products company’s stock worth $87,308,000 after buying an additional 100,704 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of The Middleby Corporation during the first quarter worth about $150,000. Mn Services Vermogensbeheer B.V. raised its position in shares of The Middleby Corporation by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,535 shares of the industrial products company’s stock worth $196,000 after buying an additional 46 shares during the last quarter. Finally, Alta Capital Management LLC raised its position in shares of The Middleby Corporation by 1.4% in the first quarter. Alta Capital Management LLC now owns 365,450 shares of the industrial products company’s stock worth $49,865,000 after buying an additional 4,986 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

Shares of The Middleby Corporation (NASDAQ:MIDD) opened at 122.53 on Friday. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 22.95 and a beta of 1.82. The Middleby Corporation has a 1-year low of $108.45 and a 1-year high of $150.87. The stock’s 50 day moving average price is $125.63 and its 200 day moving average price is $132.64.

The Middleby Corporation (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.56%. The company had revenue of $579.34 million during the quarter, compared to analyst estimates of $587.49 million. Analysts expect that The Middleby Corporation will post $5.67 EPS for the current year.

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A number of brokerages have issued reports on MIDD. Zacks Investment Research lowered The Middleby Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of The Middleby Corporation in a research note on Wednesday, May 17th. BidaskClub raised The Middleby Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Seaport Global Securities began coverage on The Middleby Corporation in a research note on Thursday, June 29th. They set a “neutral” rating and a $128.00 price target for the company. Finally, Robert W. Baird decreased their price target on The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $141.71.

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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Institutional Ownership by Quarter for The Middleby Corporation (NASDAQ:MIDD)

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