Fintel reports that on July 17, 2023, Citigroup maintained coverage of Middleby (NASDAQ:MIDD) with a Buy recommendation.
Analyst Price Forecast Suggests 27.09% Upside
As of July 6, 2023, the average one-year price target for Middleby is 180.03. The forecasts range from a low of 166.65 to a high of $190.05. The average price target represents an increase of 27.09% from its latest reported closing price of 141.65.
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The projected annual revenue for Middleby is 4,165MM, an increase of 2.95%. The projected annual non-GAAP EPS is 9.85.
What is the Fund Sentiment?
There are 790 funds or institutions reporting positions in Middleby. This is an increase of 21 owner(s) or 2.73% in the last quarter. Average portfolio weight of all funds dedicated to MIDD is 0.26%, a decrease of 18.95%. Total shares owned by institutions decreased in the last three months by 3.48% to 62,661K shares. 
The put/call ratio of MIDD is 2.67, indicating a bearish outlook.
What are Other Shareholders Doing?
Select Equity Group holds 4,783K shares representing 8.94% ownership of the company. In it's prior filing, the firm reported owning 4,537K shares, representing an increase of 5.15%. The firm increased its portfolio allocation in MIDD by 9.23% over the last quarter.
Wellington Management Group Llp holds 3,196K shares representing 5.97% ownership of the company. In it's prior filing, the firm reported owning 4,078K shares, representing a decrease of 27.57%. The firm decreased its portfolio allocation in MIDD by 15.18% over the last quarter.
Victory Capital Management holds 2,740K shares representing 5.12% ownership of the company. In it's prior filing, the firm reported owning 2,652K shares, representing an increase of 3.24%. The firm decreased its portfolio allocation in MIDD by 31.23% over the last quarter.
Jpmorgan Chase holds 2,185K shares representing 4.08% ownership of the company. In it's prior filing, the firm reported owning 2,623K shares, representing a decrease of 20.09%. The firm decreased its portfolio allocation in MIDD by 89.42% over the last quarter.
Price T Rowe Associates holds 2,149K shares representing 4.02% ownership of the company. In it's prior filing, the firm reported owning 2,171K shares, representing a decrease of 1.05%. The firm increased its portfolio allocation in MIDD by 0.84% over the last quarter.
Middleby Background Information
(This description is provided by the company.)
The Middleby Corporation is a global leader in the foodservice equipment industry. The company develops, manufactures, markets and services a broad line of equipment used in the commercial foodservice, food processing, and residential kitchen equipment industries. The company's leading equipment brands serving the commercial foodservice industry include Anets®, APW Wyott®, Bakers Pride®, Beech®, BKI®, Blodgett®, Blodgett Combi®, Blodgett Range®, Bloomfield®, Britannia®, Carter-Hoffmann®, Celfrost®, Concordia®, CookTek®, Crown®, CTX®, Desmon®, Deutsche Beverage®, Doyon®, Eswood®, EVO®, Firex®, Follett®, frifri®, Giga®, Globe®, Goldstein®, Holman®, Houno®, IMC®, Induc®, Ink Kegs®, Inline Filling Systems®, Jade®, JoeTap®, Josper®, L2F®, Lang®, Lincat®, MagiKitch'n®, Market Forge®, Marsal®, Meheen®, Middleby Marshall®, MPC®, Nieco®, Nu-Vu®, PerfectFry®, Pitco®, QualServ®, RAM®, Southbend®, Ss Brewtech®, Star®, Starline®, Sveba Dahlen®, Synesso®, Tank®, Taylor®, Thor®, Toastmaster®, TurboChef®, Ultrafryer®, Varimixer®, Wells® Wild Goose® and Wunder-Bar®.
Additional reading:
- Middleby Announces Corporate Officer Retirement and Additions -Martin Lindsay Retires, Brittany Cerwin and Matthew Fuchsen Named Company Officers-
- The Middleby Corporation Reports Record First Quarter Results
- List of subsidiaries.
- The Middleby Corporation Reports Record Fourth Quarter Results
- EXHIBIT 99.1
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
