The Middleby Co. (NASDAQ:MIDD) Shares Sold by National Bank of Canada FI

National Bank of Canada FI trimmed its stake in The Middleby Co. (NASDAQ:MIDD) by 22.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,954 shares of the industrial products company’s stock after selling 10,082 shares during the quarter. National Bank of Canada FI’s holdings in Middleby were worth $4,724,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in MIDD. Verdence Capital Advisors LLC increased its holdings in shares of Middleby by 4.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 88 shares during the period. Townsquare Capital LLC grew its position in Middleby by 1.4% in the 3rd quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company’s stock worth $871,000 after purchasing an additional 89 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Middleby by 4.8% in the second quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 93 shares during the period. Assetmark Inc. raised its holdings in shares of Middleby by 5.2% during the third quarter. Assetmark Inc. now owns 1,868 shares of the industrial products company’s stock valued at $260,000 after buying an additional 93 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Middleby by 133.3% during the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after buying an additional 132 shares during the period. 98.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MIDD shares. StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 price objective on shares of Middleby in a report on Saturday, September 14th. Jefferies Financial Group reissued a “hold” rating and set a $160.00 target price (down previously from $170.00) on shares of Middleby in a research note on Thursday. Finally, Canaccord Genuity Group reduced their price target on shares of Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $154.67.

Middleby Stock Performance

Shares of MIDD opened at $141.08 on Friday. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $161.01. The stock has a market capitalization of $7.59 billion, a P/E ratio of 19.46 and a beta of 1.60. The firm’s 50 day moving average is $138.60 and its 200-day moving average is $134.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The company had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. Middleby’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company posted $2.35 EPS. Equities research analysts anticipate that The Middleby Co. will post 9.12 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.