Kalmar Investments Inc. DE reduced its position in shares of The Middleby Corp. (NASDAQ:MIDD) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 304,255 shares of the company’s stock after selling 28,346 shares during the period. The Middleby Corp. comprises about 1.5% of Kalmar Investments Inc. DE’s holdings, making the stock its 15th largest position. Kalmar Investments Inc. DE’s holdings in The Middleby Corp. were worth $35,065,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its position in shares of The Middleby Corp. by 2,957.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 420,324 shares of the company’s stock worth $48,442,000 after buying an additional 406,577 shares during the last quarter. Whittier Trust Co. increased its position in shares of The Middleby Corp. by 1.2% in the second quarter. Whittier Trust Co. now owns 14,436 shares of the company’s stock worth $1,664,000 after buying an additional 175 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of The Middleby Corp. by 2.4% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 2,355 shares of the company’s stock worth $271,000 after buying an additional 56 shares during the last quarter. Trillium Asset Management LLC increased its position in shares of The Middleby Corp. by 8.8% in the second quarter. Trillium Asset Management LLC now owns 66,746 shares of the company’s stock worth $7,692,000 after buying an additional 5,426 shares during the last quarter. Finally, Calamos Advisors LLC bought a new position in shares of The Middleby Corp. during the second quarter worth about $23,355,000. 95.07% of the stock is owned by institutional investors.
Shares of The Middleby Corp. (NASDAQ:MIDD) traded up 1.36% during mid-day trading on Tuesday, hitting $117.68. The company had a trading volume of 191,069 shares. The Middleby Corp. has a 12 month low of $79.11 and a 12 month high of $140.98. The firm has a 50-day moving average price of $123.33 and a 200 day moving average price of $118.82. The firm has a market capitalization of $6.77 billion, a P/E ratio of 29.64 and a beta of 1.45.
The Middleby Corp. (NASDAQ:MIDD) last released its quarterly earnings results on Wednesday, August 10th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. The Middleby Corp. had a return on equity of 20.50% and a net margin of 10.89%. On average, equities research analysts forecast that The Middleby Corp. will post $4.80 earnings per share for the current fiscal year.
A number of brokerages have issued reports on MIDD. Zacks Investment Research downgraded The Middleby Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, October 12th. Wellington Shields raised The Middleby Corp. from a “hold” rating to an “accumulate” rating in a research note on Friday, September 9th. Finally, Deutsche Bank AG initiated coverage on The Middleby Corp. in a research note on Tuesday, September 6th. They set a “hold” rating and a $123.00 target price for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $126.80.
About The Middleby Corp.
The Middleby Corporation (Middleby) 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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