Suncoast Equity Management buys $9,130,536 stake in Middleby Corp (MIDD)

Middleby Corp (MIDD) : Suncoast Equity Management scooped up 13,840 additional shares in Middleby Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 69,939 shares of Middleby Corp which is valued at $9,130,536.Middleby Corp makes up approximately 2.76% of Suncoast Equity Management’s portfolio.

Other Hedge Funds, Including , King Luther Capital Management Corp boosted its stake in MIDD in the latest quarter, The investment management firm added 2,010 additional shares and now holds a total of 82,235 shares of Middleby Corp which is valued at $10,735,779. Middleby Corp makes up approx 0.10% of King Luther Capital Management Corp’s portfolio.Allegis Investment Advisors boosted its stake in MIDD in the latest quarter, The investment management firm added 790 additional shares and now holds a total of 14,148 shares of Middleby Corp which is valued at $1,869,941. Middleby Corp makes up approx 0.90% of Allegis Investment Advisors’s portfolio.Los Angeles Capital Management Equity Research Inc reduced its stake in MIDD by selling 300 shares or 7.56% in the most recent quarter. The Hedge Fund company now holds 3,668 shares of MIDD which is valued at $484,800. Hallmark Capital Management Inc added MIDD to its portfolio by purchasing 235 company shares during the most recent quarter which is valued at $28,694.Winslow Evans Crocker reduced its stake in MIDD by selling 28 shares or 19.18% in the most recent quarter. The Hedge Fund company now holds 118 shares of MIDD which is valued at $13,943.

Middleby Corp opened for trading at $130 and hit $132.13 on the upside on Tuesday, eventually ending the session at $131.94, with a gain of 1.99% or 2.58 points. The heightened volatility saw the trading volume jump to 2,83,383 shares. Company has a market cap of $7,592 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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