The Middleby Co. (NASDAQ:MIDD) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,561 shares of the industrial products company’s stock after selling 360 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Middleby were worth $2,582,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MIDD. Tidal Investments LLC lifted its stake in shares of Middleby by 278.9% in the 1st quarter. Tidal Investments LLC now owns 9,060 shares of the industrial products company’s stock valued at $1,457,000 after purchasing an additional 6,669 shares during the period. EdgePoint Investment Group Inc. increased its holdings in Middleby by 1.0% in the first quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock valued at $321,342,000 after buying an additional 20,511 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Middleby by 13.7% in the first quarter. Cetera Advisors LLC now owns 1,560 shares of the industrial products company’s stock worth $251,000 after acquiring an additional 188 shares during the period. Aurora Investment Counsel boosted its stake in shares of Middleby by 1.3% during the 1st quarter. Aurora Investment Counsel now owns 10,584 shares of the industrial products company’s stock worth $1,702,000 after acquiring an additional 133 shares in the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Middleby in the 1st quarter valued at about $13,887,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group dropped their price target on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. 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 reiterated a “buy” rating and issued a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. Finally, Robert W. Baird upped their price target on shares of Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $154.67.

Middleby Stock Performance

NASDAQ:MIDD opened at $142.18 on Wednesday. The company has a market cap of $7.65 billion, a P/E ratio of 19.61 and a beta of 1.58. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $161.01. The company’s 50-day moving average price is $137.94 and its 200-day moving average price is $133.39. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The business had revenue of $942.81 million during the quarter, compared to analysts’ expectations of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business earned $2.35 earnings per share. On average, sell-side analysts forecast that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

Middleby 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.