Alta Capital Management Lowers stake in Middleby Corp (MIDD)

Middleby Corp (MIDD) : Alta Capital Management reduced its stake in Middleby Corp by 6.71% during the most recent quarter end. The investment management company now holds a total of 443,693 shares of Middleby Corp which is valued at $52,426,765 after selling 31,931 shares in Middleby Corp , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Middleby Corp makes up approximately 3.14% of Alta Capital Management’s portfolio.

Other Hedge Funds, Including , Vigilant Capital Management added MIDD to its portfolio by purchasing 83 company shares during the most recent quarter which is valued at $9,804.Cutler Group Lp boosted its stake in MIDD in the latest quarter, The investment management firm added 204 additional shares and now holds a total of 224 shares of Middleby Corp which is valued at $26,087.Gw&k Investment Management boosted its stake in MIDD in the latest quarter, The investment management firm added 24,770 additional shares and now holds a total of 275,264 shares of Middleby Corp which is valued at $32,057,245. Middleby Corp makes up approx 0.65% of Gw&k Investment Management’s portfolio.

Middleby Corp opened for trading at $116.2 and hit $118.41 on the upside on Wednesday, eventually ending the session at $118.12, with a gain of 2.36% or 2.72 points. The heightened volatility saw the trading volume jump to 3,40,527 shares. Company has a market cap of $6,797 M.

On the company’s financial health, Middleby Corp reported $1.04 EPS for the quarter, based on the information available during the earnings call on Nov 10, 2015. Analyst had a consensus estimate of $1.04. The company had revenue of $449.00 million for the quarter, compared to analysts expectations of $446.45 million. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.

The Middleby Corporation is engaged in the design manufacture and sale of commercial foodservice food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group has a portfolio of cooking and warming equipment; the Food Processing Equipment Group offers a portfolio of processing solutions for customers producing pre-cooked meat products and the Residential Kitchen Equipment Group manufactures sells and distributes kitchen equipment for the residential market. The equipment are used in all types of commercial restaurants and institutional kitchens; food preparation cooking baking chilling and packaging equipment for food processing operations and kitchen equipment including ranges ovens refrigerators ventilation and dishwashers used in the residential market. Its brands include Anets Beech Blodgett Britannia CTX Cozzini Danfotech Drake Brigade Jade and TurboChef among others.

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