Teza Capital Management LLC Sells 13,022 Shares of The Middleby Corporation $MIDD

Key Points

• Teza Capital Management LLC sold 13,022 shares of The Middleby Corporation, reducing its holdings by 82.9% during the first quarter, leaving them with 2,693 shares valued at approximately $409,000.
• The Middleby Corporation reported earnings per share (EPS) of $2.35 for the last quarter, surpassing analysts' expectations of $2.20, although revenue decreased by 1.4% year-over-year.
• Currently, 98.55% of Middleby's stock is held by institutional investors, with several hedge funds increasing their stakes significantly during the first quarter.

Teza Capital Management LLC lowered its holdings in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 82.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,693 shares of the industrial products company's stock after selling 13,022 shares during the period. Teza Capital Management LLC's holdings in Middleby were worth $409,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. TCTC Holdings LLC grew its stake in Middleby by 116.7% during the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company's stock worth $26,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc grew its stake in Middleby by 760.0% during the first quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock worth $39,000 after purchasing an additional 228 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Middleby by 90.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company's stock worth $66,000 after purchasing an additional 205 shares during the period. UMB Bank n.a. grew its stake in Middleby by 60.3% during the first quarter. UMB Bank n.a. now owns 638 shares of the industrial products company's stock worth $97,000 after purchasing an additional 240 shares during the period. Finally, GAMMA Investing LLC grew its stake in Middleby by 44.9% during the first quarter. GAMMA Investing LLC now owns 901 shares of the industrial products company's stock worth $137,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 98.55% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays decreased their target price on Middleby from $180.00 to $165.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Wall Street Zen cut Middleby from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Wolfe Research set a $163.00 price objective on Middleby and gave the company an "outperform" rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. reduced their price objective on Middleby from $145.00 to $125.00 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group raised their price objective on Middleby from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $161.13.

Middleby Stock Performance

Middleby stock traded down $4.19 during mid-day trading on Friday, reaching $134.59. 522,046 shares of the company's stock were exchanged, compared to its average volume of 759,699. The business's fifty day simple moving average is $139.42 and its 200 day simple moving average is $142.92. The firm has a market capitalization of $6.82 billion, a PE ratio of 17.12 and a beta of 1.54. The Middleby Corporation has a one year low of $118.09 and a one year high of $182.73. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.15. The business had revenue of $977.86 million for the quarter, compared to analyst estimates of $979.59 million. Middleby had a return on equity of 14.14% and a net margin of 11.06%.Middleby's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $2.39 earnings per share. On average, sell-side analysts expect that The Middleby Corporation will post 9.11 earnings per share for the current year.

Middleby 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.