Bank of Hawaii cut its holdings in Middleby Corp (NASDAQ:MIDD) by 4.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,075 shares of the industrial products company’s stock after selling 623 shares during the period. Bank of Hawaii’s holdings in Middleby were worth $1,261,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of MIDD. Private Capital Group LLC boosted its holdings in Middleby by 261.6% in the first 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. Integrated Investment Consultants LLC bought a new stake in Middleby in the second quarter worth $118,000. IFM Investors Pty Ltd bought a new stake in Middleby in the second quarter worth $229,000. BNP Paribas Arbitrage SA boosted its holdings in Middleby by 43.5% in the first quarter. BNP Paribas Arbitrage SA now owns 3,531 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Addenda Capital Inc. bought a new stake in Middleby in the second quarter worth $521,000.
MIDD has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Middleby from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. ValuEngine lowered shares of Middleby from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. Robert W. Baird boosted their target price on shares of Middleby from $116.00 to $130.00 and gave the stock a “hold” rating in a research report on Thursday, August 9th. BidaskClub raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Finally, Wellington Shields raised shares of Middleby from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Middleby has an average rating of “Hold” and an average target price of $126.57.
Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, August 8th. The industrial products company reported $1.51 EPS for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.04). The company had revenue of $668.13 million for the quarter, compared to analyst estimates of $645.88 million. Middleby had a net margin of 12.07% and a return on equity of 22.52%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 EPS. sell-side analysts expect that Middleby Corp will post 6.08 earnings per share for the current year.
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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