Virtu Financial LLC Invests $639,000 in The Middleby Co. (NASDAQ:MIDD)

Virtu Financial LLC purchased a new stake in shares of The Middleby Co. (NASDAQ:MIDD) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,594 shares of the industrial products company’s stock, valued at approximately $639,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quarry LP grew 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 worth $28,000 after buying an additional 132 shares during the last quarter. Covestor Ltd lifted its stake in shares of Middleby by 306.5% in the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 190 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of 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 acquiring an additional 136 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Middleby by 820.0% in the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 287 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Middleby by 91.8% in the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 234 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MIDD shares. Canaccord Genuity Group lowered their price objective on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 target price (down from $170.00) on shares of Middleby in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Middleby has a consensus rating of “Hold” and a consensus price target of $154.67.

Middleby Stock Down 1.7 %

Shares of NASDAQ:MIDD opened at $138.75 on Friday. The Middleby Co. has a 1 year low of $118.41 and a 1 year high of $161.01. 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 business’s 50-day moving average is $138.68 and its 200-day moving average is $134.44. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 19.14 and a beta of 1.60.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results 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 analyst estimates of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. Middleby’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.35 earnings per share. Equities research analysts predict that The Middleby Co. will post 9.12 earnings per share 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.