Signaturefd LLC Has $41,000 Position in The Middleby Co. (NASDAQ:MIDD)

Signaturefd LLC cut its position in The Middleby Co. (NASDAQ:MIDD) by 43.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 294 shares of the industrial products company’s stock after selling 224 shares during the quarter. Signaturefd LLC’s holdings in Middleby were worth $41,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MIDD. Allspring Global Investments Holdings LLC increased its holdings in Middleby by 1,246.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 162 shares during the period. Quarry LP grew its position in shares of Middleby by 133.3% in the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after buying an additional 132 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Middleby by 97.7% in the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after buying an additional 126 shares during the period. UMB Bank n.a. raised its position in shares of Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 136 shares during the last quarter. Finally, Crewe Advisors LLC increased its position in Middleby by 620.0% during the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 310 shares during the period. 98.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MIDD. KeyCorp decreased their price objective on Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. lifted their price objective on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 price objective on shares of Middleby in a report on Friday, September 13th. Robert W. Baird boosted their price objective on Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $156.17.

Middleby Price Performance

Shares of Middleby stock opened at $140.38 on Thursday. The business’s 50-day moving average price is $137.39 and its 200-day moving average price is $133.86. The firm has a market capitalization of $7.55 billion, a PE ratio of 19.55 and a beta of 1.58. The Middleby Co. has a 12 month low of $109.59 and a 12 month high of $161.01. The company has a current ratio of 2.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.69.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $991.55 million during the quarter, compared to analyst estimates of $994.05 million. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.47 earnings per share. Sell-side analysts forecast that The Middleby Co. will post 9.61 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.