Public Employees Retirement System of Ohio cut its holdings in The Middleby Co. (NASDAQ:MIDD – Free Report) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 19,338 shares of the industrial products company’s stock after selling 963 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Middleby were worth $2,690,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP boosted its position in shares of Middleby by 133.3% during the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 132 shares in the last quarter. Covestor Ltd increased its stake in shares of Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 190 shares in the last quarter. UMB Bank n.a. lifted its stake in Middleby by 93.2% in the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after buying an additional 136 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Middleby during the second quarter worth $45,000. Finally, Avior Wealth Management LLC lifted its position in shares of Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 287 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on MIDD. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. Canaccord Genuity Group cut their price objective on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $154.67.
Middleby Stock Performance
Middleby stock opened at $136.98 on Tuesday. The firm has a market capitalization of $7.37 billion, a PE ratio of 18.89 and a beta of 1.60. The Middleby Co. has a one year low of $118.41 and a one year high of $161.01. The stock’s 50 day moving average price is $138.77 and its 200 day moving average price is $134.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.
Middleby (NASDAQ:MIDD – Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $942.81 million during the quarter, compared to analysts’ expectations of $996.60 million. During the same quarter last year, the company posted $2.35 earnings per share. Middleby’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that The Middleby Co. will post 9.12 EPS for the current fiscal year.
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.
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