Toronto Dominion Bank Sells 546 Shares of The Middleby Co. (NASDAQ:MIDD)

Toronto Dominion Bank trimmed its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 4.0% during the third quarter, HoldingsChannel reports. The fund owned 13,068 shares of the industrial products company’s stock after selling 546 shares during the quarter. Toronto Dominion Bank’s holdings in Middleby were worth $1,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Middleby during the second quarter worth $225,000. Blue Trust Inc. lifted its holdings in Middleby by 4.8% during the 2nd quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock worth $248,000 after buying an additional 93 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Middleby by 2.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,367 shares of the industrial products company’s stock valued at $781,000 after buying an additional 161 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Middleby in the second quarter valued at about $583,000. Finally, Lecap Asset Management Ltd. bought a new position in shares of Middleby during the second quarter worth about $1,564,000. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Trading Down 1.7 %

NASDAQ:MIDD opened at $138.75 on Monday. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $161.01. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 19.14 and a beta of 1.60. The firm has a fifty day simple moving average of $138.68 and a two-hundred day simple moving average of $134.52.

Middleby (NASDAQ:MIDD) last issued its earnings results 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 firm had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same quarter in the prior year, the business earned $2.35 earnings per share. The business’s quarterly revenue was down 3.9% on a year-over-year basis. Analysts expect that The Middleby Co. will post 9.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MIDD has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $160.00 target price (down previously from $170.00) on shares of Middleby in a research report on Thursday. StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group dropped 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 price target on shares of Middleby in a report on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Middleby presently has an average rating of “Hold” and a consensus 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.