Crossmark Global Holdings Inc. Reduces Holdings in The Middleby Co. (NASDAQ:MIDD)

Crossmark Global Holdings Inc. lessened its stake in The Middleby Co. (NASDAQ:MIDD) by 13.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,216 shares of the industrial products company’s stock after selling 509 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Middleby were worth $436,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MIDD. Assenagon Asset Management S.A. lifted its stake in Middleby by 4,494.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock worth $171,524,000 after purchasing an additional 1,238,767 shares in the last quarter. Pacer Advisors Inc. raised its holdings in 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 purchasing an additional 171,634 shares in the last quarter. New York State Common Retirement Fund lifted its position in Middleby by 275.2% in the third quarter. New York State Common Retirement Fund now owns 185,885 shares of the industrial products company’s stock valued at $25,862,000 after acquiring an additional 136,345 shares during the last quarter. Natixis Advisors LLC purchased a new position in Middleby during the 3rd quarter worth approximately $10,928,000. Finally, Point72 Asset Management L.P. purchased a new stake in Middleby in the 3rd quarter valued at $4,486,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Trading Up 16.5 %

Shares of MIDD stock opened at $169.72 on Monday. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $169.92. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 23.41 and a beta of 1.61. The firm has a 50-day moving average price of $139.56 and a 200 day moving average price of $137.45. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same quarter in the previous year, the company posted $2.35 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts forecast that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on MIDD shares. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group reiterated a “hold” rating and set a $160.00 price target (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $155.00 price target on shares of Middleby in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $154.67.

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.