Public Employees Retirement Association of Colorado Trims Stock Position in The Middleby Co. (NASDAQ:MIDD)

Public Employees Retirement Association of Colorado decreased its holdings in The Middleby Co. (NASDAQ:MIDD) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,666 shares of the industrial products company’s stock after selling 165 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Middleby were worth $695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Middleby by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock valued at $822,165,000 after purchasing an additional 15,798 shares during the period. EdgePoint Investment Group Inc. grew its stake in shares of Middleby by 1.0% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock valued at $321,342,000 after buying an additional 20,511 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Middleby by 0.8% during 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 buying an additional 11,552 shares during the last quarter. Sarasin & Partners LLP raised its position in shares of Middleby by 1.6% in the 2nd quarter. Sarasin & Partners LLP now owns 925,915 shares of the industrial products company’s stock worth $113,526,000 after buying an additional 14,413 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Middleby by 43.7% in the second quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company’s stock valued at $110,768,000 after acquiring an additional 274,513 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Price Performance

MIDD stock opened at $140.33 on Thursday. 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 firm has a market capitalization of $7.55 billion, a PE ratio of 19.54 and a beta of 1.58. The Middleby Co. has a one year low of $109.59 and a one year high of $161.01. The firm has a 50-day moving average of $136.52 and a two-hundred day moving average of $136.79.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The company had revenue of $991.55 million during the quarter, compared to analyst estimates of $994.05 million. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. On average, analysts forecast that The Middleby Co. will post 9.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Robert W. Baird upped their price target on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. KeyCorp cut their price objective on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. 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. Raymond James began coverage on shares of Middleby in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

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.