Middleby Corp (MIDD) Shares Bought by PenderFund Capital Management Ltd.
PenderFund Capital Management Ltd. increased its position in Middleby Corp (NASDAQ:MIDD) by 1.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 91,436 shares of the industrial products company’s stock after purchasing an additional 1,581 shares during the period. Middleby accounts for about 4.4% of PenderFund Capital Management Ltd.’s holdings, making the stock its 8th biggest holding. PenderFund Capital Management Ltd.’s holdings in Middleby were worth $14,191,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Private Capital Group LLC raised its stake in Middleby by 261.6% during the 1st quarter. Private Capital Group LLC now owns 886 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 641 shares during the last quarter. Integrated Investment Consultants LLC purchased a new stake in Middleby during the 2nd quarter valued at approximately $118,000. Cubist Systematic Strategies LLC raised its stake in Middleby by 305.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,377 shares of the industrial products company’s stock valued at $144,000 after acquiring an additional 1,037 shares during the last quarter. IFM Investors Pty Ltd purchased a new stake in Middleby during the 2nd quarter valued at approximately $229,000. Finally, Standard Life Aberdeen plc purchased a new stake in Middleby during the 2nd quarter valued at approximately $311,000.
A number of brokerages have recently issued reports on MIDD. BidaskClub downgraded Middleby from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 12th. Zacks Investment Research raised Middleby from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a research note on Tuesday, October 9th. Buckingham Research raised Middleby from a “neutral” rating to a “buy” rating and increased their target price for the stock from $115.00 to $174.00 in a research note on Monday, September 24th. TheStreet raised Middleby from a “c+” rating to a “b-” rating in a research note on Wednesday, September 5th. Finally, ValuEngine raised Middleby from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $135.57.
Middleby (NASDAQ:MIDD) last issued its earnings results on Wednesday, August 8th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). The business had revenue of $668.13 million for the quarter, compared to analysts’ expectations of $645.88 million. Middleby had a return on equity of 22.52% and a net margin of 12.07%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the company posted $1.35 earnings per share. On average, equities analysts forecast that Middleby Corp will post 6.13 earnings per share for the current fiscal year.
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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