The Middleby Co. (NASDAQ:MIDD) Shares Sold by Fiera Capital Corp

Fiera Capital Corp cut its stake in The Middleby Co. (NASDAQ:MIDD) by 27.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 344,145 shares of the industrial products company’s stock after selling 132,310 shares during the quarter. Fiera Capital Corp owned approximately 0.64% of Middleby worth $47,881,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MIDD. Olstein Capital Management L.P. boosted its holdings in Middleby by 3.0% during the third quarter. Olstein Capital Management L.P. now owns 68,500 shares of the industrial products company’s stock worth $9,530,000 after buying an additional 2,000 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of 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 worth $25,862,000 after acquiring an additional 136,345 shares during the period. Roubaix Capital LLC purchased a new stake in shares of Middleby during the 3rd quarter worth about $3,407,000. State of Alaska Department of Revenue grew its position in shares of Middleby by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,212 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 420 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in shares of Middleby by 25.3% in the 3rd quarter. GHP Investment Advisors Inc. now owns 20,166 shares of the industrial products company’s stock valued at $2,806,000 after purchasing an additional 4,067 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Price Performance

MIDD stock traded down $0.54 during mid-day trading on Friday, reaching $140.70. The company’s stock had a trading volume of 66,347 shares, compared to its average volume of 502,929. The stock has a market cap of $7.57 billion, a PE ratio of 19.48 and a beta of 1.58. The company’s 50 day moving average is $136.85 and its two-hundred day moving average is $133.66. The Middleby Co. has a fifty-two week low of $115.41 and a fifty-two week 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.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The company had revenue of $942.81 million for the quarter, compared to analysts’ expectations of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.35 EPS. Equities research analysts expect that The Middleby Co. will post 9.35 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on MIDD shares. StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a report on Monday. Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. JPMorgan Chase & Co. increased their price objective on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group reduced their price target on shares of Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Robert W. Baird lifted their price objective on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Middleby currently has an average rating of “Moderate Buy” and an average price target of $154.67.

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.