New York State Common Retirement Fund Trims Position in The Middleby Co. (NASDAQ:MIDD)

New York State Common Retirement Fund lessened its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 1.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 182,800 shares of the industrial products company’s stock after selling 3,085 shares during the quarter. New York State Common Retirement Fund’s holdings in Middleby were worth $24,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MIDD. Covestor Ltd boosted its position in shares of Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 190 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 287 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Middleby by 41.1% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 116 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Middleby during the 3rd quarter valued at about $72,000. Finally, Principal Securities Inc. boosted its position in shares of Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 78 shares during 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 brokerages have recently issued reports on MIDD. Robert W. Baird lifted their price target on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on Middleby from $134.00 to $145.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Canaccord Genuity Group boosted their target price on Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. KeyCorp boosted their target price on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Finally, StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Middleby has a consensus rating of “Hold” and an average price target of $178.83.

Middleby Stock Performance

NASDAQ:MIDD opened at $167.07 on Friday. The firm has a market cap of $8.99 billion, a PE ratio of 23.04 and a beta of 1.64. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $177.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The business has a 50 day moving average price of $150.44 and a 200-day moving average price of $142.48.

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.