Addenda Capital Inc. Sells 266 Shares of The Middleby Co. (NASDAQ:MIDD)

Addenda Capital Inc. reduced its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 54,773 shares of the industrial products company’s stock after selling 266 shares during the period. Addenda Capital Inc.’s holdings in Middleby were worth $7,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP grew its holdings in shares of Middleby by 133.3% in the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 132 shares in the last quarter. Covestor Ltd grew its holdings in shares of Middleby by 306.5% in the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 190 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Middleby by 93.2% in the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 136 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 287 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Middleby by 91.8% during the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 234 shares during the period. 98.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MIDD has been the subject of a number of analyst reports. 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. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $154.67.

Middleby Stock Up 0.3 %

MIDD opened at $142.03 on Tuesday. 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 market cap of $7.64 billion, a P/E ratio of 19.59 and a beta of 1.61. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $161.01. The business’s 50-day moving average price is $138.44 and its 200-day moving average price is $136.60.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.15). The firm had revenue of $942.81 million for 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 earnings per share. On average, equities analysts expect that The Middleby Co. will post 9.12 EPS for the current year.

Middleby 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.