Caprock Group LLC Makes New Investment in The Middleby Co. (NASDAQ:MIDD)

Caprock Group LLC bought a new stake in The Middleby Co. (NASDAQ:MIDD) in the third quarter, Holdings Channel reports. The institutional investor bought 1,518 shares of the industrial products company’s stock, valued at approximately $211,000.

Several other hedge funds have also made changes to their positions in the business. Quarry LP increased its position in Middleby by 133.3% in the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 132 shares during the period. Covestor Ltd grew its stake in shares of Middleby by 306.5% in the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 190 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Middleby by 97.7% in the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 126 shares during the period. UMB Bank n.a. raised its stake in shares of Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 136 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Middleby during the third quarter worth approximately $72,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Up 2.5 %

MIDD opened at $142.16 on Monday. The Middleby Co. has a one year low of $118.41 and a one year high of $161.01. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 19.61 and a beta of 1.58. The business’s fifty day moving average is $137.72 and its two-hundred day moving average is $133.32. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Middleby (NASDAQ:MIDD) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share 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 business had revenue of $942.81 million for the quarter, compared to analysts’ expectations of $996.60 million. During the same quarter last year, the business posted $2.35 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. Analysts anticipate that The Middleby Co. will post 9.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MIDD has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Robert W. Baird boosted their target price on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group reduced their price target on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $154.67.

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.