ArrowMark Colorado Holdings LLC Sells 8,258 Shares of The Middleby Co. (NASDAQ:MIDD)

ArrowMark Colorado Holdings LLC cut its stake in The Middleby Co. (NASDAQ:MIDD) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 449,044 shares of the industrial products company’s stock after selling 8,258 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Middleby were worth $62,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Beacon Investment Advisory Services Inc. bought a new position in Middleby during the 3rd quarter valued at $204,000. Atom Investors LP purchased a new stake in shares of Middleby in the third quarter valued at about $1,664,000. Captrust Financial Advisors boosted its holdings in Middleby by 111.7% during the third quarter. Captrust Financial Advisors now owns 6,058 shares of the industrial products company’s stock worth $843,000 after purchasing an additional 3,196 shares during the last quarter. Townsquare Capital LLC grew its position in Middleby by 1.4% in the 3rd quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company’s stock worth $871,000 after purchasing an additional 89 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Middleby in the third quarter valued at approximately $130,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MIDD has been the subject of several research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. Canaccord Genuity Group reduced their target price on shares of Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Middleby currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.67.

Middleby Stock Performance

Shares of MIDD stock opened at $143.39 on Monday. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $161.01. The stock has a market capitalization of $7.71 billion, a P/E ratio of 19.78 and a beta of 1.58. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $138.04 and its 200 day moving average is $133.56.

Middleby (NASDAQ:MIDD) last issued its earnings results 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). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. During the same quarter in the prior year, the business earned $2.35 EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that The Middleby Co. will post 9.12 earnings per share for the current 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.