The Middleby Co. (NASDAQ:MIDD) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its stake in The Middleby Co. (NASDAQ:MIDD) by 38.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,107 shares of the industrial products company’s stock after purchasing an additional 1,428 shares during the quarter. Quantinno Capital Management LP’s holdings in Middleby were worth $711,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MIDD. Quarry LP lifted its holdings in shares of Middleby by 133.3% in the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 132 shares during the last quarter. Covestor Ltd increased its stake in Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after buying an additional 190 shares during the period. UMB Bank n.a. increased its stake in Middleby by 93.2% during the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock worth $39,000 after buying an additional 136 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Middleby during the 2nd quarter worth approximately $45,000. Finally, Avior Wealth Management LLC increased its stake in Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after buying an additional 287 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Middleby Trading Down 1.7 %

NASDAQ MIDD opened at $138.75 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The firm’s fifty day moving average price is $138.68 and its 200 day moving average price is $134.36. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 19.14 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 posted its earnings results 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 during the quarter, compared to analysts’ expectations of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $2.35 earnings per share. On average, sell-side analysts expect that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

About Middleby

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.