Thrivent Financial for Lutherans Trims Holdings in The Middleby Co. (NASDAQ:MIDD)

Thrivent Financial for Lutherans reduced its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,561 shares of the industrial products company’s stock after selling 360 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Middleby were worth $2,582,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MIDD. Verdence Capital Advisors LLC increased its holdings in Middleby by 4.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 88 shares during the period. Blue Trust Inc. increased its stake in shares of Middleby by 4.8% during the second quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock valued at $248,000 after buying an additional 93 shares during the period. Assetmark Inc. raised its holdings in shares of Middleby by 5.2% in the third quarter. Assetmark Inc. now owns 1,868 shares of the industrial products company’s stock valued at $260,000 after acquiring an additional 93 shares in the last quarter. Mendota Financial Group LLC lifted its stake in Middleby by 10.0% in the second quarter. Mendota Financial Group LLC now owns 1,150 shares of the industrial products company’s stock worth $141,000 after acquiring an additional 105 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Middleby by 97.7% during the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 126 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MIDD shares. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. Robert W. Baird upped their price objective on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group decreased their price target on shares of Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.67.

Middleby Stock Performance

Shares of MIDD opened at $142.18 on Wednesday. The stock has a 50-day moving average of $137.94 and a two-hundred day moving average of $133.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The stock has a market cap of $7.65 billion, a P/E ratio of 19.61 and a beta of 1.58. The Middleby Co. has a one year low of $118.41 and a one year high of $161.01.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the firm earned $2.35 EPS. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, research analysts predict that The Middleby Co. will post 9.12 EPS for the current 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.