Nisa Investment Advisors LLC Trims Stock Position in The Middleby Co. (NASDAQ:MIDD)

Nisa Investment Advisors LLC decreased its position in shares of The Middleby Co. (NASDAQ:MIDD) by 75.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,565 shares of the industrial products company’s stock after selling 4,802 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Middleby were worth $218,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in MIDD. Select Equity Group L.P. grew its stake in Middleby by 15.4% during the 2nd quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock worth $779,835,000 after buying an additional 846,884 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Middleby by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock worth $822,165,000 after acquiring an additional 15,798 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of Middleby by 1.0% in the 1st quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock valued at $321,342,000 after acquiring an additional 20,511 shares during the period. Price T Rowe Associates Inc. MD raised its position in Middleby by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,450,221 shares of the industrial products company’s stock valued at $233,182,000 after purchasing an additional 11,552 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Middleby by 11,853.1% during the 2nd quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company’s stock worth $118,609,000 after purchasing an additional 959,272 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Canaccord Genuity Group dropped their price objective on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. Finally, KeyCorp dropped their price objective on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. 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 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 Trading Up 4.8 %

NASDAQ:MIDD opened at $143.63 on Thursday. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 19.81 and a beta of 1.58. The Middleby Co. has a 1 year low of $113.77 and a 1 year high of $161.01. The stock has a fifty day moving average price of $136.75 and a two-hundred day moving average price of $133.53. 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 announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same quarter last year, the business earned $2.35 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Middleby Co. will post 9.35 earnings per share for the current fiscal year.

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.