The Middleby Co. (NASDAQ:MIDD) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,209 shares of the industrial products company’s stock after selling 79 shares during the period. Tidal Investments LLC’s holdings in Middleby were worth $864,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cornercap Investment Counsel Inc. acquired a new stake in Middleby in the 2nd quarter valued at approximately $500,000. Westwood Holdings Group Inc. grew its stake in shares of Middleby by 11.7% in the second quarter. Westwood Holdings Group Inc. now owns 96,482 shares of the industrial products company’s stock valued at $11,830,000 after buying an additional 10,115 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Middleby in the second quarter valued at $225,000. GHP Investment Advisors Inc. lifted its stake in Middleby by 4,691.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 16,099 shares of the industrial products company’s stock worth $1,974,000 after acquiring an additional 15,763 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its holdings in Middleby by 35.2% during the 2nd quarter. Epoch Investment Partners Inc. now owns 482,389 shares of the industrial products company’s stock valued at $59,146,000 after acquiring an additional 125,675 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MIDD has been the topic of a number of recent research reports. StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and set a $155.00 target price on shares of Middleby in a report on Friday. Canaccord Genuity Group restated a “buy” rating and issued a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $154.67.

Middleby Price Performance

Middleby stock opened at $134.72 on Friday. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $138.85 and a 200-day simple moving average of $134.64. The stock has a market cap of $7.25 billion, a P/E ratio of 18.58 and a beta of 1.60. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $161.01.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. During the same period in the prior year, the company posted $2.35 earnings per share. The company’s revenue was down 3.9% compared to the same quarter last year. Equities analysts expect 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.