Middleby Corp (MIDD) is PenderFund Capital Management Ltd.’s 8th Largest Position

PenderFund Capital Management Ltd. lifted its position in Middleby Corp (NASDAQ:MIDD) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,436 shares of the industrial products company’s stock after buying an additional 1,581 shares during the quarter. Middleby makes up 4.4% of PenderFund Capital Management Ltd.’s investment portfolio, making the stock its 8th largest holding. PenderFund Capital Management Ltd. owned approximately 0.16% of Middleby worth $14,191,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Stephens Investment Management Group LLC grew its stake in Middleby by 0.5% during the 2nd quarter. Stephens Investment Management Group LLC now owns 105,816 shares of the industrial products company’s stock worth $10,989,000 after purchasing an additional 562 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Middleby by 7.6% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,500 shares of the industrial products company’s stock worth $888,000 after purchasing an additional 600 shares in the last quarter. Private Capital Group LLC grew 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 worth $110,000 after purchasing an additional 641 shares in the last quarter. Amalgamated Bank grew its stake in Middleby by 6.7% during the 1st quarter. Amalgamated Bank now owns 11,756 shares of the industrial products company’s stock worth $1,455,000 after purchasing an additional 741 shares in the last quarter. Finally, Weybosset Research & Management LLC grew its stake in Middleby by 1.8% during the 3rd quarter. Weybosset Research & Management LLC now owns 43,821 shares of the industrial products company’s stock worth $5,668,000 after purchasing an additional 795 shares in the last quarter.

MIDD has been the subject of several analyst reports. TheStreet raised Middleby from a “c+” rating to a “b-” rating in a research note on Wednesday, September 5th. Buckingham Research raised Middleby from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $115.00 to $174.00 in a research note on Monday, September 24th. BidaskClub raised Middleby from a “hold” rating to a “buy” rating in a research note on Tuesday, June 19th. 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. Finally, Wellington Shields raised Middleby from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $135.57.

Shares of NASDAQ:MIDD traded up $0.16 on Wednesday, hitting $117.66. 17,215 shares of the company’s stock were exchanged, compared to its average volume of 606,589. The stock has a market cap of $7.21 billion, a P/E ratio of 18.94 and a beta of 1.84. Middleby Corp has a 1-year low of $98.06 and a 1-year high of $138.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.06 and a current ratio of 1.94.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Wednesday, August 8th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.04). The business had revenue of $668.13 million for the quarter, compared to analyst estimates of $645.88 million. Middleby had a return on equity of 22.52% and a net margin of 12.07%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.35 earnings per share. On average, equities research analysts predict that Middleby Corp will post 6.13 EPS for the current year.

About Middleby

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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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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