Brooklyn Investment Group Purchases Shares of 937 The Middleby Co. (NASDAQ:MIDD)

Brooklyn Investment Group acquired a new position in The Middleby Co. (NASDAQ:MIDD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 937 shares of the industrial products company’s stock, valued at approximately $130,000.

A number of other large investors also recently modified their holdings of MIDD. Millrace Asset Group Inc. purchased a new stake in Middleby in the 3rd quarter valued at $1,368,000. Quantbot Technologies LP bought a new position in shares of Middleby during the third quarter valued at about $1,145,000. Dynamic Technology Lab Private Ltd boosted its holdings in Middleby by 472.3% during the third quarter. Dynamic Technology Lab Private Ltd now owns 20,906 shares of the industrial products company’s stock worth $2,909,000 after purchasing an additional 17,253 shares during the last quarter. Cerity Partners LLC grew its position in Middleby by 30.0% in the 3rd quarter. Cerity Partners LLC now owns 13,625 shares of the industrial products company’s stock worth $1,896,000 after purchasing an additional 3,143 shares in the last quarter. Finally, Studio Investment Management LLC increased its stake in Middleby by 5.2% in the 3rd quarter. Studio Investment Management LLC now owns 3,531 shares of the industrial products company’s stock valued at $491,000 after buying an additional 175 shares during the last quarter. Institutional investors own 98.55% of the company’s stock.

Wall Street Analyst Weigh In

MIDD has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and issued a $164.00 price objective on shares of Middleby in a research note on Saturday, September 14th. Canaccord Genuity Group cut their price target 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. Robert W. Baird increased their price target on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Middleby presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.67.

Middleby Stock Performance

Shares of MIDD stock opened at $141.75 on Thursday. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $161.01. The stock has a market capitalization of $7.62 billion, a P/E ratio of 19.61 and a beta of 1.58. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $138.00 and its 200 day moving average is $133.42.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. During the same period in the previous year, the business earned $2.35 earnings per share. Middleby’s revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that The Middleby Co. will post 9.12 earnings per share for the current 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.