Holocene Advisors LP Reduces Stake in The Middleby Co. (NASDAQ:MIDD)

Holocene Advisors LP decreased its position in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 37.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,883 shares of the industrial products company's stock after selling 19,326 shares during the quarter. Holocene Advisors LP owned 0.06% of Middleby worth $4,575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornercap Investment Counsel Inc. purchased a new position in Middleby during the second quarter valued at approximately $500,000. Addenda Capital Inc. raised its position in Middleby by 8.5% during the second quarter. Addenda Capital Inc. now owns 57,645 shares of the industrial products company's stock valued at $7,068,000 after acquiring an additional 4,512 shares in the last quarter. Sarasin & Partners LLP increased its position in shares of Middleby by 1.6% in the second quarter. Sarasin & Partners LLP now owns 925,915 shares of the industrial products company's stock valued at $113,526,000 after buying an additional 14,413 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Middleby by 11.7% in the second quarter. Westwood Holdings Group Inc. now owns 96,482 shares of the industrial products company's stock valued at $11,830,000 after buying an additional 10,115 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Middleby in the second quarter valued at approximately $225,000. Institutional investors and hedge funds own 98.55% of the company's stock.

Middleby Trading Down 0.9 %

MIDD traded down $1.31 during mid-day trading on Thursday, hitting $141.72. 298,841 shares of the stock were exchanged, compared to its average volume of 505,538. The firm's fifty day moving average is $138.04 and its two-hundred day moving average is $133.74. The Middleby Co. has a 1-year low of $118.41 and a 1-year 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. The company has a market cap of $7.62 billion, a PE ratio of 19.73 and a beta of 1.60.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its earnings results 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). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. During the same period in the previous year, the company posted $2.35 EPS. Middleby's revenue was down 3.9% on a year-over-year basis. Equities analysts forecast that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MIDD has been the subject of a number of recent analyst reports. Canaccord Genuity Group cut their price objective on Middleby from $164.00 to $155.00 and set a "buy" rating for the company in a research report on Friday, November 1st. StockNews.com upgraded Middleby from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $164.00 price target on shares of Middleby in a research report on Saturday, September 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.