Sumitomo Mitsui Asset Management Company LTD cut its position in The Middleby Corporation (NASDAQ:MIDD) by 14.1% during the second quarter, Holdings Channel reports. The fund owned 3,998 shares of the industrial products company’s stock after selling 656 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in The Middleby Corporation were worth $485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. YorkBridge Wealth Partners LLC boosted its position in The Middleby Corporation by 14.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 728 shares of the industrial products company’s stock worth $102,000 after buying an additional 90 shares during the last quarter. Van ECK Associates Corp boosted its position in The Middleby Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 780 shares of the industrial products company’s stock worth $106,000 after buying an additional 56 shares during the last quarter. Advisory Services Network LLC bought a new position in The Middleby Corporation during the first quarter worth approximately $125,000. LS Investment Advisors LLC boosted its position in The Middleby Corporation by 4.7% in the second quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock worth $130,000 after buying an additional 48 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in 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 during the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.

The Middleby Corporation (NASDAQ:MIDD) opened at 120.44 on Friday. The Middleby Corporation has a one year low of $108.45 and a one year high of $150.87. The company has a market capitalization of $6.93 billion, a PE ratio of 22.90 and a beta of 1.82. The firm’s 50-day moving average is $125.61 and its 200 day moving average is $132.72.

The Middleby Corporation (NASDAQ:MIDD) last released its earnings results on Tuesday, May 9th. The industrial products company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.12. The company had revenue of $530.30 million during the quarter, compared to the consensus estimate of $542.50 million. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%. On average, equities analysts expect that The Middleby Corporation will post $5.67 EPS for the current fiscal year.

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MIDD has been the topic of a number of research analyst reports. BMO Capital Markets restated a “buy” rating and issued a $150.00 price target (down from $155.00) on shares of The Middleby Corporation in a report on Friday, June 23rd. Zacks Investment Research upgraded shares of The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a report on Tuesday, July 18th. Wellington Shields upgraded shares of The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. Seaport Global Securities initiated coverage on shares of The Middleby Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $128.00 price target on the stock. Finally, BidaskClub upgraded shares of The Middleby Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $141.67.

The Middleby Corporation Company Profile

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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