ArrowMark Colorado Holdings LLC Has $62.48 Million Stock Position in The Middleby Co. (NASDAQ:MIDD)

ArrowMark Colorado Holdings LLC lessened its position in The Middleby Co. (NASDAQ:MIDD) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 449,044 shares of the industrial products company’s stock after selling 8,258 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.83% of Middleby worth $62,475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP lifted its stake in shares of Middleby by 133.3% during the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after buying an additional 132 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Middleby by 97.7% during the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after buying an additional 126 shares during the last quarter. Covestor Ltd lifted its stake in shares of Middleby by 306.5% in the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 190 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Middleby by 93.2% during the 3rd 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. Finally, Strategic Financial Concepts LLC bought a new stake in Middleby during the 2nd quarter worth $45,000. 98.55% of the stock is owned by institutional investors.

Middleby Trading Up 1.2 %

Shares of MIDD stock opened at $143.39 on Monday. The company has a market cap of $7.71 billion, a P/E ratio of 19.78 and a beta of 1.58. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $161.01. The stock has a 50 day simple moving average of $138.04 and a two-hundred day simple moving average of $133.56. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (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 analyst estimates of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.35 EPS. Research analysts forecast that The Middleby Co. will post 9.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

MIDD has been the topic of several research reports. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a research report on Saturday, September 14th. Finally, Canaccord Genuity Group cut their price objective on Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.