Middleby Corp (NASDAQ:MIDD) Shares Sold by Alta Capital Management LLC

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Alta Capital Management LLC cut its position in Middleby Corp (NASDAQ:MIDD) by 20.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,703 shares of the industrial products company’s stock after selling 67,244 shares during the period. Middleby accounts for 2.1% of Alta Capital Management LLC’s holdings, making the stock its 23rd largest position. Alta Capital Management LLC’s holdings in Middleby were worth $30,476,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Prudential Financial Inc. boosted its stake in Middleby by 3.2% during the second quarter. Prudential Financial Inc. now owns 3,200 shares of the industrial products company’s stock worth $434,000 after buying an additional 100 shares during the last quarter. First Hawaiian Bank boosted its stake in Middleby by 1.4% during the third quarter. First Hawaiian Bank now owns 8,232 shares of the industrial products company’s stock worth $963,000 after buying an additional 117 shares during the last quarter. Bank of Hawaii boosted its stake in Middleby by 1.1% during the second quarter. Bank of Hawaii now owns 11,092 shares of the industrial products company’s stock worth $1,505,000 after buying an additional 120 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Middleby by 0.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,780 shares of the industrial products company’s stock worth $2,277,000 after buying an additional 124 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in Middleby by 3.7% during the second quarter. IFM Investors Pty Ltd now owns 3,581 shares of the industrial products company’s stock worth $486,000 after buying an additional 127 shares during the last quarter. 95.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Middleby stock opened at $119.92 on Wednesday. Middleby Corp has a 52 week low of $96.65 and a 52 week high of $142.98. The business’s fifty day simple moving average is $115.04 and its 200-day simple moving average is $126.80. The firm has a market cap of $6.52 billion, a PE ratio of 19.66 and a beta of 1.62. The company has a quick ratio of 1.01, a current ratio of 2.10 and a debt-to-equity ratio of 1.11.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.07). Middleby had a net margin of 11.27% and a return on equity of 21.17%. The business had revenue of $761.00 million during the quarter, compared to analyst estimates of $774.13 million. During the same period last year, the company earned $1.63 EPS. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities analysts expect that Middleby Corp will post 6.56 earnings per share for the current year.

A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Middleby from a “hold” rating to a “sell” rating and set a $119.00 price objective on the stock. in a research note on Monday, October 14th. TheStreet lowered Middleby from a “b-” rating to a “c” rating in a research note on Thursday, August 29th. Buckingham Research set a $153.00 price target on Middleby and gave the company a “buy” rating in a research note on Wednesday, August 7th. ValuEngine lowered Middleby from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup decreased their price target on Middleby from $138.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $140.57.

In other Middleby news, Director Robert A. Nerbonne purchased 450 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $113.85 per share, with a total value of $51,232.50. Following the purchase, the director now directly owns 1,282 shares in the company, valued at approximately $145,955.70. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert A. Nerbonne purchased 455 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $111.21 per share, for a total transaction of $50,600.55. Following the purchase, the director now owns 1,282 shares in the company, valued at $142,571.22. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

About Middleby

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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