Quest Partners LLC Grows Stock Position in The Middleby Co. (NASDAQ:MIDD)

Quest Partners LLC grew its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 142,460.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,128 shares of the industrial products company’s stock after purchasing an additional 7,123 shares during the quarter. Quest Partners LLC’s holdings in Middleby were worth $992,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MIDD. Allspring Global Investments Holdings LLC grew its stake in shares of Middleby by 1,246.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 162 shares during the period. Quarry LP grew its stake in shares of Middleby by 133.3% during the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 132 shares during the period. Covestor Ltd grew its stake in shares of Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 190 shares during the period. GAMMA Investing LLC grew its stake in shares of Middleby by 97.7% during the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 126 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Middleby by 93.2% during the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 136 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Wall Street Analyst Weigh In

MIDD has been the subject of a number of recent research reports. Canaccord Genuity Group cut their price objective on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group restated a “buy” rating and issued a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. Finally, Robert W. Baird upped their price target on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.67.

Middleby Stock Down 0.4 %

NASDAQ MIDD opened at $135.73 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The company has a market capitalization of $7.30 billion, a P/E ratio of 18.72 and a beta of 1.58. The Middleby Co. has a one year low of $118.41 and a one year high of $161.01. The stock has a 50 day moving average price of $137.32 and a 200-day moving average price of $133.36.

Middleby (NASDAQ:MIDD) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The firm had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.35 earnings per share. As a group, equities analysts predict that The Middleby Co. will post 9.2 EPS for the current fiscal year.

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.