The Middleby Co. (NASDAQ:MIDD) Position Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its stake in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 52.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,029 shares of the industrial products company's stock after buying an additional 6,174 shares during the period. Illinois Municipal Retirement Fund's holdings in Middleby were worth $2,442,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Covestor Ltd increased its position in 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. Avior Wealth Management LLC grew its holdings in shares of Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company's stock worth $45,000 after buying an additional 287 shares in the last quarter. UMB Bank n.a. raised its position in shares of Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock valued at $54,000 after buying an additional 116 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Middleby during the third quarter valued at approximately $72,000. Finally, Principal Securities Inc. boosted its position in Middleby by 16.0% during the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock worth $77,000 after acquiring an additional 78 shares during the last quarter. 98.55% of the stock is owned by institutional investors and hedge funds.

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Middleby Trading Down 2.3 %

NASDAQ MIDD traded down $3.83 during mid-day trading on Monday, hitting $161.58. The company's stock had a trading volume of 533,354 shares, compared to its average volume of 844,532. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The firm has a market capitalization of $8.66 billion, a P/E ratio of 22.29 and a beta of 1.64. The stock's fifty day simple moving average is $153.59 and its two-hundred day simple moving average is $143.60. The Middleby Co. has a 52-week low of $118.41 and a 52-week high of $182.73.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.38. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business's quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.65 earnings per share. Research analysts expect that The Middleby Co. will post 9.11 EPS for the current year.

Analyst Upgrades and Downgrades

MIDD has been the subject of several analyst reports. Barclays boosted their price target on Middleby from $160.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Canaccord Genuity Group increased their target price on Middleby from $192.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Middleby from $145.00 to $150.00 and gave the company an "underweight" rating in a report on Wednesday, February 26th. Robert W. Baird upped their price objective on shares of Middleby from $157.00 to $227.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $160.00 target price (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $180.86.

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.