Teachers Retirement System of The State of Kentucky Sells 470 Shares of The Middleby Co. (NASDAQ:MIDD)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 17,163 shares of the industrial products company’s stock after selling 470 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Middleby were worth $2,388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cornercap Investment Counsel Inc. bought a new stake in shares of Middleby in the 2nd quarter valued at about $500,000. Westwood Holdings Group Inc. lifted its holdings in Middleby by 11.7% during the second quarter. Westwood Holdings Group Inc. now owns 96,482 shares of the industrial products company’s stock worth $11,830,000 after acquiring an additional 10,115 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Middleby in the second quarter valued at about $225,000. Lecap Asset Management Ltd. bought a new stake in shares of Middleby in the second quarter worth about $1,564,000. Finally, GHP Investment Advisors Inc. raised its position in shares of Middleby by 4,691.4% during the second quarter. GHP Investment Advisors Inc. now owns 16,099 shares of the industrial products company’s stock worth $1,974,000 after purchasing an additional 15,763 shares during the period. 98.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Canaccord Genuity Group dropped their target price on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, November 1st. StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 target price (down from $170.00) on shares of Middleby in a research note on Thursday. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $154.67.

Middleby Trading Down 1.7 %

Shares of NASDAQ:MIDD opened at $138.75 on Monday. The stock has a market capitalization of $7.46 billion, a PE ratio of 19.14 and a beta of 1.60. The company’s 50-day moving average price is $138.68 and its two-hundred day moving average price is $134.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The Middleby Co. has a one year low of $118.41 and a one year high of $161.01.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data 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). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same period in the previous year, the company posted $2.35 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities analysts forecast that The Middleby Co. will post 9.12 EPS for the current fiscal year.

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.