The Middleby Corporation $MIDD Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in The Middleby Corporation (NASDAQ:MIDD) by 24.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,591 shares of the industrial products company’s stock after acquiring an additional 3,211 shares during the period. Teacher Retirement System of Texas’ holdings in Middleby were worth $2,389,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Bessemer Group Inc. increased its holdings in shares of Middleby by 4.1% in the 2nd quarter. Bessemer Group Inc. now owns 10,171 shares of the industrial products company’s stock valued at $1,464,000 after purchasing an additional 396 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Middleby by 2.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,075 shares of the industrial products company’s stock valued at $2,603,000 after purchasing an additional 410 shares in the last quarter. MQS Management LLC purchased a new position in shares of Middleby in the 2nd quarter valued at about $427,000. First Citizens Bank & Trust Co. increased its holdings in shares of Middleby by 271.0% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 6,233 shares of the industrial products company’s stock valued at $898,000 after purchasing an additional 4,553 shares in the last quarter. Finally, Aurora Investment Counsel increased its holdings in shares of Middleby by 2.6% in the 2nd quarter. Aurora Investment Counsel now owns 12,295 shares of the industrial products company’s stock valued at $1,770,000 after purchasing an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MIDD shares. Barclays reiterated an “overweight” rating and issued a $180.00 price target (up previously from $165.00) on shares of Middleby in a report on Monday, October 20th. Wall Street Zen downgraded shares of Middleby from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Zacks Research upgraded shares of Middleby from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Wolfe Research set a $163.00 target price on shares of Middleby and gave the company an “outperform” rating in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Middleby from $125.00 to $140.00 and gave the company an “underweight” rating in a report on Tuesday, October 14th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Middleby has an average rating of “Hold” and a consensus price target of $165.00.

Middleby Stock Performance

NASDAQ:MIDD opened at $124.23 on Monday. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $134.65 and a two-hundred day moving average price of $139.02. The Middleby Corporation has a twelve month low of $118.09 and a twelve month high of $182.73. The company has a market capitalization of $6.30 billion, a P/E ratio of 15.81 and a beta of 1.52.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.15. The business had revenue of $977.86 million during the quarter, compared to the consensus estimate of $979.59 million. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.39 earnings per share. As a group, research analysts expect that The Middleby Corporation will post 9.11 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.