Stifel Financial Corp Sells 81 Shares of The Middleby Co. (NASDAQ:MIDD)

Stifel Financial Corp cut its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,856 shares of the industrial products company’s stock after selling 81 shares during the period. Stifel Financial Corp’s holdings in Middleby were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MIDD. Quantinno Capital Management LP raised its holdings in Middleby by 38.8% during the 3rd quarter. Quantinno Capital Management LP now owns 5,107 shares of the industrial products company’s stock valued at $711,000 after buying an additional 1,428 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Middleby in the 3rd quarter worth about $4,486,000. Centiva Capital LP boosted its stake in shares of Middleby by 125.7% during the 3rd quarter. Centiva Capital LP now owns 10,759 shares of the industrial products company’s stock worth $1,497,000 after purchasing an additional 5,993 shares during the period. Concentric Capital Strategies LP bought a new position in Middleby during the 3rd quarter valued at about $2,706,000. Finally, Beacon Investment Advisory Services Inc. purchased a new stake in Middleby in the 3rd quarter worth about $204,000. 98.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Middleby Trading Down 0.6 %

NASDAQ MIDD opened at $136.58 on Monday. The Middleby Co. has a one year low of $118.41 and a one year high of $161.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 18.84 and a beta of 1.60. The company’s 50-day simple moving average is $138.67 and its two-hundred day simple moving average is $135.10.

Middleby (NASDAQ:MIDD) last issued 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). The business had revenue of $942.81 million for 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 business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.35 earnings per share. Equities analysts forecast that The Middleby Co. will post 9.13 EPS 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.