New York State Common Retirement Fund Boosts Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

New York State Common Retirement Fund lifted its stake in The Middleby Co. (NASDAQ:MIDD - Free Report) by 275.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 185,885 shares of the industrial products company's stock after buying an additional 136,345 shares during the period. New York State Common Retirement Fund owned approximately 0.35% of Middleby worth $25,862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MIDD. Allspring Global Investments Holdings LLC increased its holdings in Middleby by 1,246.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 162 shares during the period. Quarry LP raised its stake in Middleby by 133.3% in the second quarter. Quarry LP now owns 231 shares of the industrial products company's stock worth $28,000 after buying an additional 132 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Middleby by 97.7% during the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company's stock worth $31,000 after acquiring an additional 126 shares during the period. UMB Bank n.a. lifted its stake in shares of 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 purchasing an additional 136 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in Middleby in the second quarter worth $45,000. Institutional investors own 98.55% of the company's stock.

Middleby Stock Up 3.1 %

Shares of MIDD traded up $3.98 during midday trading on Monday, reaching $134.14. 818,273 shares of the stock were exchanged, compared to its average volume of 501,203. The company has a current ratio of 2.81, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The company's 50 day moving average is $136.96 and its two-hundred day moving average is $133.62. The company has a market capitalization of $7.21 billion, a P/E ratio of 18.50 and a beta of 1.58. The Middleby Co. has a 52 week low of $113.77 and a 52 week high of $161.01.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). The business had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 EPS. On average, sell-side analysts anticipate that The Middleby Co. will post 9.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MIDD shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. JPMorgan Chase & Co. boosted their price target on Middleby from $118.00 to $120.00 and gave the stock an "underweight" rating in a research note on Friday, August 2nd. KeyCorp decreased their target price on shares of Middleby from $175.00 to $160.00 and set an "overweight" rating for the company in a research note on Monday, July 15th. Canaccord Genuity Group dropped 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. Finally, Robert W. Baird boosted their price objective on Middleby from $155.00 to $169.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $154.67.

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.