Nisa Investment Advisors LLC Sells 4,802 Shares of The Middleby Co. (NASDAQ:MIDD)

Nisa Investment Advisors LLC cut its stake in The Middleby Co. (NASDAQ:MIDD - Free Report) by 75.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,565 shares of the industrial products company's stock after selling 4,802 shares during the period. Nisa Investment Advisors LLC's holdings in Middleby were worth $218,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MIDD. Allspring Global Investments Holdings LLC lifted its position in shares of Middleby by 1,246.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company's stock worth $28,000 after purchasing an additional 162 shares in the last quarter. Quarry LP boosted its stake in shares of Middleby by 133.3% during the second quarter. Quarry LP now owns 231 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 132 shares during the period. GAMMA Investing LLC increased its holdings 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 valued at $31,000 after acquiring an additional 126 shares in the last quarter. UMB Bank n.a. raised its stake in 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 purchasing an additional 136 shares during the period. Finally, Crewe Advisors LLC boosted its holdings in Middleby by 620.0% during the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 98.55% of the company's stock.

Middleby Trading Down 1.7 %

Shares of MIDD traded down $2.39 during midday trading on Thursday, hitting $141.24. The stock had a trading volume of 534,994 shares, compared to its average volume of 504,951. The firm has a market cap of $7.59 billion, a PE ratio of 19.81 and a beta of 1.58. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The stock's 50 day moving average is $136.84 and its 200 day moving average is $133.60. The Middleby Co. has a 1 year low of $113.77 and a 1 year high of $161.01.

Middleby (NASDAQ:MIDD - Get Free Report) last released 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 during 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 company's revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.35 EPS. As a group, analysts forecast that The Middleby Co. will post 9.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MIDD shares. Robert W. Baird lifted their target price on Middleby from $155.00 to $169.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. KeyCorp decreased their target price on Middleby from $175.00 to $160.00 and set an "overweight" rating on the stock in a report on Monday, July 15th. Canaccord Genuity Group reduced their target price on shares of Middleby from $164.00 to $155.00 and set a "buy" rating for the company in a report on Friday, November 1st. StockNews.com upgraded shares of Middleby from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Canaccord Genuity Group restated a "buy" rating and set a $164.00 target price on shares of Middleby in a research note on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Middleby currently has a consensus rating of "Moderate Buy" and an average price target of $154.67.

Middleby Company 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.