Venturi Wealth Management LLC Makes New $204,000 Investment in The Middleby Corporation $MIDD

Venturi Wealth Management LLC acquired a new position in shares of The Middleby Corporation (NASDAQ:MIDD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,415 shares of the industrial products company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Burgundy Asset Management Ltd. increased its holdings in shares of Middleby by 5.0% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,604 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 77 shares during the period. Signaturefd LLC increased its holdings in shares of Middleby by 23.7% in the 2nd quarter. Signaturefd LLC now owns 418 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 80 shares during the period. TCTC Holdings LLC increased its holdings in shares of Middleby by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 91 shares during the period. Xponance Inc. increased its holdings in shares of Middleby by 1.6% in the 1st quarter. Xponance Inc. now owns 6,223 shares of the industrial products company’s stock valued at $946,000 after purchasing an additional 99 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Middleby by 0.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,020 shares of the industrial products company’s stock valued at $1,675,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Middleby to a “strong sell” rating in a report on Monday, August 11th. Wolfe Research set a $163.00 target price on Middleby and gave the company an “outperform” rating in a report on Thursday, September 4th. Canaccord Genuity Group upped their target price on Middleby from $162.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Wall Street Zen lowered shares of Middleby from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Middleby from $145.00 to $125.00 and set an “underweight” rating on the stock in a research report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $160.71.

Middleby Price Performance

Shares of MIDD opened at $129.12 on Friday. The firm has a market cap of $6.54 billion, a PE ratio of 16.43 and a beta of 1.52. The firm’s 50 day moving average price is $134.49 and its 200 day moving average price is $139.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.56 and a current ratio of 2.57. The Middleby Corporation has a twelve month low of $118.09 and a twelve month high of $182.73.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.15. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The company had revenue of $977.86 million for the quarter, compared to analyst estimates of $979.59 million. During the same quarter last year, the firm posted $2.39 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts expect that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Middleby Company Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.