New York State Teachers Retirement System Decreases Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

New York State Teachers Retirement System trimmed its position in The Middleby Co. (NASDAQ:MIDD) by 0.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 53,218 shares of the industrial products company’s stock after selling 100 shares during the period. New York State Teachers Retirement System’s holdings in Middleby were worth $7,404,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MIDD. Select Equity Group L.P. boosted its holdings in Middleby by 15.4% in the second quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock valued at $779,835,000 after acquiring an additional 846,884 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Middleby by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock worth $822,165,000 after purchasing an additional 15,798 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Middleby by 1.0% in the 1st quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock worth $321,342,000 after purchasing an additional 20,511 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Middleby by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,450,221 shares of the industrial products company’s stock worth $233,182,000 after purchasing an additional 11,552 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Middleby by 11,853.1% in the 2nd quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company’s stock worth $118,609,000 after purchasing an additional 959,272 shares during the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Price Performance

MIDD opened at $134.14 on Tuesday. The Middleby Co. has a 12-month low of $113.77 and a 12-month high of $161.01. 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 business’s fifty day simple moving average is $136.96 and its 200-day simple moving average is $133.62. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 18.50 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. During the same period in the previous year, the business earned $2.35 EPS. Middleby’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that The Middleby Co. will post 9.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MIDD shares. Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. Canaccord Genuity Group decreased their price target on Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. increased their price target on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Robert W. Baird increased their target price on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Middleby currently has an average rating of “Moderate Buy” and a consensus target price of $154.67.

Middleby 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.