Oak Ridge Investments LLC Has $51.95 Million Holdings in The Middleby Corporation (NASDAQ:MIDD)

Oak Ridge Investments LLC cut its stake in The Middleby Corporation (NASDAQ:MIDD) by 40.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 427,559 shares of the industrial products company’s stock after selling 286,626 shares during the quarter. The Middleby Corporation makes up 1.7% of Oak Ridge Investments LLC’s portfolio, making the stock its 19th biggest holding. Oak Ridge Investments LLC owned 0.74% of The Middleby Corporation worth $51,953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of MIDD. Bronfman E.L. Rothschild L.P. increased its position in The Middleby Corporation by 0.9% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,029 shares of the industrial products company’s stock worth $140,000 after buying an additional 9 shares during the last quarter. World Asset Management Inc boosted its holdings in The Middleby Corporation by 1.1% during the second quarter. World Asset Management Inc now owns 2,591 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 27 shares during the period. Honkamp Krueger Financial Services Inc. boosted its holdings in The Middleby Corporation by 0.7% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 5,396 shares of the industrial products company’s stock valued at $656,000 after acquiring an additional 35 shares during the period. Jaffetilchin Investment Partners LLC lifted its stake in shares of The Middleby Corporation by 1.5% in the first quarter. Jaffetilchin Investment Partners LLC now owns 2,373 shares of the industrial products company’s stock valued at $324,000 after buying an additional 36 shares during the period. Finally, Keybank National Association OH lifted its stake in shares of The Middleby Corporation by 0.6% in the first quarter. Keybank National Association OH now owns 7,058 shares of the industrial products company’s stock valued at $963,000 after buying an additional 39 shares during the period. 95.34% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of The Middleby Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research note on Tuesday, July 18th. Seaport Global Securities started coverage on shares of The Middleby Corporation in a report on Thursday, June 29th. They set a “neutral” rating and a $128.00 price objective for the company. BMO Capital Markets reaffirmed a “buy” rating and set a $150.00 price objective (down previously from $155.00) on shares of The Middleby Corporation in a report on Friday, June 23rd. Finally, Robert W. Baird lowered their price target on shares of The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The Middleby Corporation currently has a consensus rating of “Hold” and a consensus price target of $142.71.

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Shares of The Middleby Corporation (MIDD) traded down 0.15% on Friday, reaching $120.42. 331,135 shares of the company were exchanged. The firm has a market capitalization of $6.94 billion, a PE ratio of 22.55 and a beta of 1.81. The Middleby Corporation has a 12-month low of $108.45 and a 12-month high of $150.87. The company’s 50 day moving average is $122.08 and its 200 day moving average is $129.71.

The Middleby Corporation (NASDAQ:MIDD) last released its earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.01. The company had revenue of $579.34 million during the quarter, compared to analyst estimates of $587.49 million. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. Analysts forecast that The Middleby Corporation will post $5.61 earnings per share for the current year.

In related news, Director John R. Miller III sold 8,500 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $118.50, for a total value of $1,007,250.00. Following the completion of the sale, the director now directly owns 16,000 shares in the company, valued at $1,896,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gordon Obrien sold 5,600 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total value of $679,896.00. Following the completion of the sale, the director now owns 11,050 shares of the company’s stock, valued at $1,341,580.50. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

The Middleby Corporation Company Profile

The Middleby Corporation 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.

Institutional Ownership by Quarter for The Middleby Corporation (NASDAQ:MIDD)

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