National Bank of Canada FI Has $4.72 Million Holdings in The Middleby Co. (NASDAQ:MIDD)

National Bank of Canada FI lowered its stake in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 22.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 33,954 shares of the industrial products company's stock after selling 10,082 shares during the period. National Bank of Canada FI owned approximately 0.06% of Middleby worth $4,724,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MIDD. Quantinno Capital Management LP increased its holdings in Middleby by 38.8% in the 3rd quarter. Quantinno Capital Management LP now owns 5,107 shares of the industrial products company's stock valued at $711,000 after buying an additional 1,428 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Middleby during the 3rd quarter valued at about $4,486,000. Centiva Capital LP raised its position in Middleby by 125.7% in the third quarter. Centiva Capital LP now owns 10,759 shares of the industrial products company's stock worth $1,497,000 after purchasing an additional 5,993 shares in the last quarter. Concentric Capital Strategies LP acquired a new position in Middleby in the third quarter worth about $2,706,000. Finally, Beacon Investment Advisory Services Inc. bought a new position in Middleby during the third quarter worth about $204,000. Institutional investors own 98.55% of the company's stock.

Middleby Price Performance

MIDD traded down $2.33 during midday trading on Friday, hitting $138.75. The company had a trading volume of 461,145 shares, compared to its average volume of 505,906. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $161.01. The firm's 50-day simple moving average is $138.60 and its 200-day simple moving average is $134.26. The company has a market capitalization of $7.46 billion, a PE ratio of 19.46 and a beta of 1.60. 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 - Get Free Report) last posted 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 firm had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.35 EPS. Equities research analysts predict that The Middleby Co. will post 9.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reissued a "hold" rating and issued a $160.00 target price (down from $170.00) on shares of Middleby in a report on Thursday. StockNews.com raised Middleby from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Canaccord Genuity Group lowered their target price on shares of Middleby from $164.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Middleby has an average rating of "Hold" 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.