Mountain Pacific Investment Advisers LLC Sells 1,200 Shares of The Middleby Corporation $MIDD

Mountain Pacific Investment Advisers LLC trimmed its position in The Middleby Corporation (NASDAQ:MIDD) by 37.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,005 shares of the industrial products company’s stock after selling 1,200 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Middleby were worth $289,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Burgundy Asset Management Ltd. raised its holdings in Middleby by 5.0% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,604 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 77 shares in the last quarter. Signaturefd LLC raised its stake in Middleby by 23.7% in the second quarter. Signaturefd LLC now owns 418 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 80 shares in the last quarter. TCTC Holdings LLC lifted its position in Middleby by 116.7% during the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 91 shares during the period. Xponance Inc. grew its stake in Middleby by 1.6% during the first quarter. Xponance Inc. now owns 6,223 shares of the industrial products company’s stock worth $946,000 after buying an additional 99 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Middleby by 0.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,020 shares of the industrial products company’s stock valued at $1,675,000 after buying an additional 100 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Performance

Shares of MIDD stock opened at $133.97 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.56 and a current ratio of 2.57. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 17.04 and a beta of 1.52. The Middleby Corporation has a 52 week low of $118.09 and a 52 week high of $182.73. The firm’s 50-day simple moving average is $135.99 and its two-hundred day simple moving average is $140.89.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.15. The company had revenue of $977.86 million during the quarter, compared to analyst estimates of $979.59 million. Middleby had a net margin of 11.06% and a return on equity of 14.14%. Middleby’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.39 EPS. As a group, equities analysts forecast that The Middleby Corporation will post 9.11 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on MIDD shares. Canaccord Genuity Group increased their price target on shares of Middleby from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Barclays reduced their target price on Middleby from $180.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, July 21st. JPMorgan Chase & Co. decreased their price target on Middleby from $145.00 to $125.00 and set an “underweight” rating on the stock in a research note on Thursday, August 7th. Zacks Research raised Middleby to a “strong sell” rating in a report on Monday, August 11th. Finally, Wall Street Zen lowered Middleby from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $160.71.

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.