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

A number of other institutional investors also recently modified their holdings of MIDD. Price T Rowe Associates Inc. MD raised its holdings in shares of Middleby by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,029,484 shares of the industrial products company's stock valued at $460,422,000 after buying an additional 1,133,931 shares during the last quarter. Turtle Creek Asset Management Inc. increased its position in Middleby by 2.9% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 1,866,359 shares of the industrial products company's stock valued at $252,798,000 after acquiring an additional 53,276 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Middleby by 0.6% in the first quarter. Earnest Partners LLC now owns 1,319,757 shares of the industrial products company's stock worth $200,577,000 after acquiring an additional 7,791 shares during the last quarter. Clarkston Capital Partners LLC raised its stake in shares of Middleby by 1.5% in the first quarter. Clarkston Capital Partners LLC now owns 688,560 shares of the industrial products company's stock worth $104,647,000 after acquiring an additional 10,310 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of Middleby by 32.5% during the first quarter. Epoch Investment Partners Inc. now owns 578,496 shares of the industrial products company's stock worth $87,920,000 after purchasing an additional 141,769 shares in the last quarter. Institutional investors own 98.55% of the company's stock.

Middleby Stock Performance

Shares of MIDD stock traded down $0.76 during midday trading on Wednesday, hitting $137.92. 491,496 shares of the company were exchanged, compared to its average volume of 811,555. The firm has a market capitalization of $6.99 billion, a P/E ratio of 17.55 and a beta of 1.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.56 and a current ratio of 2.57. The Middleby Corporation has a 52 week low of $118.09 and a 52 week high of $182.73. The firm's 50 day moving average price is $139.90 and its two-hundred day moving average price is $143.51.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.15. The company had revenue of $977.86 million during the quarter, compared to analysts' expectations of $979.59 million. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The business's revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.39 earnings per share. As a group, equities research analysts anticipate that The Middleby Corporation will post 9.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MIDD. JPMorgan Chase & Co. reduced their price objective on Middleby from $145.00 to $125.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Barclays dropped their price objective on Middleby from $180.00 to $165.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Canaccord Genuity Group lifted their price objective on shares of Middleby from $162.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Zacks Research upgraded Middleby to a "strong sell" rating in a report on Monday, August 11th. Finally, Wolfe Research set a $163.00 price objective on Middleby and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $161.13.

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.