Sanctuary Advisors LLC Purchases Shares of 6,268 The Middleby Co. (NASDAQ:MIDD)

Sanctuary Advisors LLC acquired a new position in The Middleby Co. (NASDAQ:MIDD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,268 shares of the industrial products company’s stock, valued at approximately $891,000.

Several other institutional investors and hedge funds have also bought and sold shares of MIDD. Pacer Advisors Inc. boosted its position in shares of Middleby by 11,853.1% in the 2nd quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company’s stock worth $118,609,000 after purchasing an additional 959,272 shares in the last quarter. Select Equity Group L.P. boosted its holdings in Middleby by 15.4% in the second quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock worth $779,835,000 after acquiring an additional 846,884 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 last quarter. Ariel Investments LLC increased its holdings in shares of Middleby by 58.0% during the second quarter. Ariel Investments LLC now owns 510,127 shares of the industrial products company’s stock valued at $62,547,000 after acquiring an additional 187,304 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Middleby by 30.6% in the 2nd quarter. Principal Financial Group Inc. now owns 713,618 shares of the industrial products company’s stock valued at $87,497,000 after purchasing an additional 167,298 shares during the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Stock Up 1.5 %

Shares of MIDD opened at $134.72 on Monday. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 18.58 and a beta of 1.60. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $161.01. The stock’s 50-day moving average price is $138.88 and its 200-day moving average price is $134.75. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data 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). The company 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.35 EPS. On average, sell-side analysts predict that The Middleby Co. will post 9.13 EPS for the current year.

Wall Street Analysts Forecast Growth

MIDD has been the topic of a number of recent analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and set a $155.00 price target on shares of Middleby in a research note on Friday. Finally, Jefferies Financial Group restated a “hold” rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $154.67.

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.