Oak Ridge Investments LLC Sells 896 Shares of The Middleby Co. (NASDAQ:MIDD)

Oak Ridge Investments LLC cut its position in shares of The Middleby Co. (NASDAQ:MIDD) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,012 shares of the industrial products company’s stock after selling 896 shares during the quarter. Oak Ridge Investments LLC’s holdings in Middleby were worth $2,711,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Verdence Capital Advisors LLC grew its holdings in Middleby by 4.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 88 shares during the period. Townsquare Capital LLC grew its stake in Middleby by 1.4% during the third 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 during the period. Assetmark Inc. grew its stake in Middleby by 5.2% during the third quarter. Assetmark Inc. now owns 1,868 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 93 shares during the period. Quarry LP increased its holdings in Middleby by 133.3% in the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 132 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Middleby by 27.2% during the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company’s stock worth $84,000 after buying an additional 133 shares during the period. Institutional investors own 98.55% of the company’s stock.

Middleby Trading Up 0.3 %

MIDD opened at $142.03 on Friday. The firm has a market capitalization of $7.64 billion, a PE ratio of 19.59 and a beta of 1.61. 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 Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $161.01. The company’s 50-day moving average is $138.40 and its 200 day moving average is $136.35.

Middleby (NASDAQ:MIDD) last posted 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). Middleby had a net margin of 10.14% and a return on equity of 14.66%. 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. As a group, research analysts predict that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $155.00 target price on shares of Middleby in a research report on Friday, December 20th. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 target price (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. One investment 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 data from MarketBeat, the stock 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.