Trading Report: The Mitchell Capital Management Co. Acquires Shares of 46,996 The Middleby Corp. (MIDD)

The Mitchell Capital Management Co. Acquires Shares of 46,996 The Middleby Corp. (MIDD)

Mitchell Capital Management Co. acquired a new position in shares of The Middleby Corp. (NASDAQ:MIDD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 46,996 shares of the company’s stock, valued at approximately $5,416,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MIDD. Wellington Management Group LLP raised its position in shares of The Middleby Corp. by 79.0% in the first quarter. Wellington Management Group LLP now owns 4,797,791 shares of the company’s stock worth $512,260,000 after buying an additional 2,117,133 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in The Middleby Corp. by 6.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,552,462 shares of the company’s stock worth $272,527,000 after buying an additional 149,164 shares during the last quarter. State Street Corp boosted its stake in The Middleby Corp. by 3.9% in the first quarter. State Street Corp now owns 709,942 shares of the company’s stock worth $75,801,000 after buying an additional 26,405 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in 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. Finally, Geode Capital Management LLC boosted its stake in The Middleby Corp. by 4.3% in the first quarter. Geode Capital Management LLC now owns 360,294 shares of the company’s stock worth $38,468,000 after buying an additional 14,925 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Shares of The Middleby Corp. (NASDAQ:MIDD) traded down 1.88% during mid-day trading on Monday, reaching $116.10. 299,773 shares of the company’s stock traded hands. The stock has a market cap of $6.68 billion, a PE ratio of 29.24 and a beta of 1.45. 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 $123.69 and a 200-day moving average price of $118.57.

The Middleby Corp. (NASDAQ:MIDD) last posted its 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 net margin of 10.89% and a return on equity of 20.50%. On average, analysts predict that The Middleby Corp. will post $4.80 earnings per share for the current fiscal year.

MIDD has been the topic of a number of analyst reports. Zacks Investment Research cut shares of The Middleby Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 12th. Deutsche Bank AG initiated coverage on shares of The Middleby Corp. in a research note on Tuesday, September 6th. They issued a “hold” rating and a $123.00 target price on the stock. Finally, Wellington Shields raised shares of The Middleby Corp. from a “hold” rating to an “accumulate” rating in a research note on Friday, September 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price 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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