Inspire Investing LLC Sells 561 Shares of The Middleby Co. (NASDAQ:MIDD)

Inspire Investing LLC trimmed its position in shares of The Middleby Co. (NASDAQ:MIDD) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,615 shares of the industrial products company’s stock after selling 561 shares during the period. Inspire Investing LLC’s holdings in Middleby were worth $811,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Middleby by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock worth $822,165,000 after purchasing an additional 15,798 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Middleby by 1.0% during the first quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock worth $321,342,000 after buying an additional 20,511 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Middleby by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,450,221 shares of the industrial products company’s stock valued at $233,182,000 after acquiring an additional 11,552 shares during the period. Sarasin & Partners LLP grew its stake in shares of Middleby by 1.6% in the second quarter. Sarasin & Partners LLP now owns 925,915 shares of the industrial products company’s stock worth $113,526,000 after acquiring an additional 14,413 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Middleby by 43.7% during the second quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company’s stock worth $110,768,000 after acquiring an additional 274,513 shares during the period. 98.55% of the stock is owned by institutional investors and hedge funds.

Middleby Stock Performance

Shares of NASDAQ:MIDD opened at $141.31 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43. The business’s fifty day moving average price is $135.56 and its two-hundred day moving average price is $137.22. The Middleby Co. has a fifty-two week low of $109.59 and a fifty-two week high of $161.01. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 19.68 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. The business had revenue of $991.55 million for the quarter, compared to analyst estimates of $994.05 million. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.47 EPS. As a group, analysts predict that The Middleby Co. will post 9.66 EPS for the current fiscal year.

Analyst Ratings Changes

MIDD has been the subject of a number of research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 target price on shares of Middleby in a research note on Friday, September 13th. JPMorgan Chase & Co. boosted their price target on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. KeyCorp reduced their price objective on Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Robert W. Baird boosted their price objective on Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.