Advantage Alpha Capital Partners LP Sells 24,647 Shares of The Middleby Co. (NASDAQ:MIDD)

Advantage Alpha Capital Partners LP trimmed its position in The Middleby Co. (NASDAQ:MIDD) by 35.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,760 shares of the industrial products company’s stock after selling 24,647 shares during the quarter. Middleby comprises approximately 1.4% of Advantage Alpha Capital Partners LP’s holdings, making the stock its 17th largest position. Advantage Alpha Capital Partners LP owned 0.09% of Middleby worth $6,367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP boosted its holdings in Middleby by 133.3% in the 2nd 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 lifted its stake in shares of Middleby by 97.7% in the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after buying an additional 126 shares during the period. Covestor Ltd grew its position in Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after buying an additional 190 shares in the last quarter. UMB Bank n.a. increased its stake in Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 136 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in Middleby in the 2nd quarter valued at approximately $45,000. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a research report on Saturday, September 14th. Robert W. Baird increased their price objective on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group cut their target price on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $154.67.

Middleby Stock Up 3.4 %

Shares of MIDD opened at $146.97 on Tuesday. The business’s 50 day simple moving average is $137.94 and its 200-day simple moving average is $133.39. The Middleby Co. has a one year low of $118.41 and a one year high of $161.01. The company has a market capitalization of $7.91 billion, a P/E ratio of 20.27 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.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.15). The company had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.35 EPS. As a group, sell-side analysts predict that The Middleby Co. will post 9.12 EPS for the current fiscal year.

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.