1,531 Shares in The Middleby Co. (NASDAQ:MIDD) Acquired by PFG Investments LLC

PFG Investments LLC bought a new position in The Middleby Co. (NASDAQ:MIDD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,531 shares of the industrial products company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MIDD. Blue Trust Inc. increased its holdings in shares of Middleby by 4.8% in the second quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock worth $248,000 after buying an additional 93 shares during the period. Mendota Financial Group LLC increased its stake in Middleby by 10.0% in the 2nd quarter. Mendota Financial Group LLC now owns 1,150 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 105 shares during the period. GAMMA Investing LLC lifted its position in Middleby by 97.7% in the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 126 shares during the last quarter. Quarry LP grew its holdings in shares of 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 purchasing an additional 132 shares during the last quarter. Finally, Aurora Investment Counsel increased its stake in shares of Middleby by 1.3% in the first quarter. Aurora Investment Counsel now owns 10,584 shares of the industrial products company’s stock worth $1,702,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $164.00 price target on shares of Middleby in a research report on Friday, September 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 price objective on shares of Middleby in a report on Saturday, September 14th. Robert W. Baird boosted their target price on Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised 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. Finally, KeyCorp reduced their price objective on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Middleby presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.17.

Middleby Price Performance

MIDD opened at $129.70 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.69. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 18.14 and a beta of 1.58. The stock has a fifty day simple moving average of $137.39 and a two-hundred day simple moving average of $133.86. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a return on equity of 15.25% and a net margin of 9.90%. The business had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. During the same quarter in the previous year, the business earned $2.35 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. Research analysts predict that The Middleby Co. will post 9.61 earnings per share for the current fiscal year.

About Middleby

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.