Dixon Mitchell Investment Counsel Inc. Sells 3,254 Shares of The Middleby Co. (NASDAQ:MIDD)

Dixon Mitchell Investment Counsel Inc. reduced its position in shares of The Middleby Co. (NASDAQ:MIDD) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 221,956 shares of the industrial products company’s stock after selling 3,254 shares during the period. Middleby accounts for approximately 1.4% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 27th biggest position. Dixon Mitchell Investment Counsel Inc. owned about 0.41% of Middleby worth $30,064,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Select Equity Group L.P. boosted its holdings in Middleby by 15.4% during the second quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock valued at $779,835,000 after acquiring an additional 846,884 shares during the period. Assenagon Asset Management S.A. boosted its stake in Middleby by 4,494.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock valued at $171,524,000 after purchasing an additional 1,238,767 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Middleby by 17.7% during the third quarter. Pacer Advisors Inc. now owns 1,138,999 shares of the industrial products company’s stock worth $158,469,000 after buying an additional 171,634 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Middleby by 1.0% in the third quarter. Geode Capital Management LLC now owns 936,596 shares of the industrial products company’s stock valued at $130,341,000 after acquiring an additional 8,926 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Middleby by 43.7% during the second quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company’s stock worth $110,768,000 after acquiring an additional 274,513 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MIDD has been the topic of several research analyst reports. Jefferies Financial Group restated a “hold” rating and set a $160.00 price objective (down previously from $170.00) on shares of Middleby in a report on Thursday, December 12th. StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $155.00 price target on shares of Middleby in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $154.67.

Middleby Trading Up 1.5 %

MIDD stock opened at $142.96 on Thursday. The Middleby Co. has a 1-year low of $118.41 and a 1-year high of $161.01. 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 business’s 50 day moving average is $138.35 and its 200-day moving average is $136.04. The firm has a market cap of $7.69 billion, a P/E ratio of 19.72 and a beta of 1.61.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share 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 the consensus estimate of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned $2.35 earnings per share. Equities analysts anticipate that The Middleby Co. will post 9.12 earnings per share 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.