Centiva Capital LP Buys 5,993 Shares of The Middleby Co. (NASDAQ:MIDD)

Centiva Capital LP increased its position in The Middleby Co. (NASDAQ:MIDD) by 125.7% during the 3rd quarter, Holdings Channel reports. The firm owned 10,759 shares of the industrial products company’s stock after acquiring an additional 5,993 shares during the quarter. Centiva Capital LP’s holdings in Middleby were worth $1,497,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quarry LP grew its position in shares of Middleby by 133.3% during the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after buying an additional 132 shares in the last quarter. GAMMA Investing LLC lifted its stake in Middleby by 97.7% in the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 126 shares during the period. Covestor Ltd grew its holdings in Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 190 shares in the last quarter. UMB Bank n.a. increased its position in 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 purchasing an additional 136 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Middleby in the 2nd quarter worth approximately $45,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MIDD shares. Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 price objective on shares of Middleby in a research note on Saturday, September 14th. Canaccord Genuity Group lowered their price target on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Middleby currently has an average rating of “Moderate Buy” and an average price target of $154.67.

Middleby Price Performance

NASDAQ MIDD opened at $142.25 on Wednesday. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 19.62 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The stock’s fifty day moving average price is $138.04 and its 200 day moving average price is $133.61. The Middleby Co. has a 1 year low of $118.41 and a 1 year high of $161.01.

Middleby (NASDAQ:MIDD) last released 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). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. During the same period last year, the firm earned $2.35 EPS. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities research analysts forecast 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.