Callahan Advisors Lowers stake in Middleby Corp (MIDD)

Middleby Corp (MIDD) : Callahan Advisors reduced its stake in Middleby Corp by 1.55% during the most recent quarter end. The investment management company now holds a total of 19,395 shares of Middleby Corp which is valued at $2,295,010 after selling 305 shares in Middleby Corp , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Middleby Corp makes up approximately 0.58% of Callahan Advisors’s portfolio.

Other Hedge Funds, Including , Vigilant Capital Management sold out all of its stake in MIDD during the most recent quarter. The investment firm sold 83 shares of MIDD which is valued $9,821. Fox Run Management L.l.c. sold out all of its stake in MIDD during the most recent quarter. The investment firm sold 2,400 shares of MIDD which is valued $280,608.Eagle Asset Management Inc reduced its stake in MIDD by selling 2,378 shares or 1.21% in the most recent quarter. The Hedge Fund company now holds 193,864 shares of MIDD which is valued at $22,666,579. Middleby Corp makes up approx 0.16% of Eagle Asset Management Inc’s portfolio.First Mercantile Trust Co reduced its stake in MIDD by selling 829 shares or 5.18% in the most recent quarter. The Hedge Fund company now holds 15,179 shares of MIDD which is valued at $1,822,391. Middleby Corp makes up approx 0.24% of First Mercantile Trust Co’s portfolio.

Middleby Corp opened for trading at $118.71 and hit $119.22 on the upside on Friday, eventually ending the session at $118.33, with a gain of 0.01% or 0.01 points. The heightened volatility saw the trading volume jump to 3,86,412 shares. Company has a market cap of $6,809 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.

Many Wall Street Analysts have commented on Middleby Corp. Deutsche Bank Initiated Middleby Corp on Sep 7, 2016 to “Hold”, Price Target of the shares are set at $123.

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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