California Public Employees Retirement System Has $23.30 Million Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

California Public Employees Retirement System trimmed its position in The Middleby Co. (NASDAQ:MIDDGet Rating) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 118,395 shares of the industrial products company’s stock after selling 5,201 shares during the period. California Public Employees Retirement System’s holdings in Middleby were worth $23,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its position in shares of Middleby by 410.3% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 148 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 119 shares during the period. Freedman Financial Associates Inc. bought a new stake in shares of Middleby during the 4th quarter valued at $35,000. Steward Partners Investment Advisory LLC lifted its position in shares of Middleby by 39.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 191 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 54 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Middleby by 170.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 243 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 153 shares during the period. Finally, First Horizon Advisors Inc. bought a new stake in shares of Middleby during the 3rd quarter valued at $44,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on MIDD. KeyCorp cut their target price on Middleby from $200.00 to $182.00 in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Middleby from $198.00 to $195.00 and set a “neutral” rating for the company in a research report on Monday, March 28th. Citigroup dropped their price objective on Middleby from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, April 4th. TheStreet downgraded Middleby from a “b-” rating to a “c+” rating in a research report on Wednesday. Finally, StockNews.com assumed coverage on Middleby in a research report on Thursday, March 31st. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Middleby currently has a consensus rating of “Buy” and an average price target of $195.00.

Middleby stock opened at $139.73 on Friday. The company has a current ratio of 1.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $7.66 billion, a PE ratio of 16.36 and a beta of 1.56. The Middleby Co. has a 12 month low of $127.02 and a 12 month high of $201.34. The stock has a 50-day moving average price of $157.63 and a two-hundred day moving average price of $176.64.

Middleby (NASDAQ:MIDDGet Rating) last posted its earnings results on Tuesday, May 10th. The industrial products company reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $994.68 million during the quarter, compared to the consensus estimate of $934.97 million. Middleby had a return on equity of 19.53% and a net margin of 13.91%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the company earned $1.79 earnings per share. As a group, analysts predict that The Middleby Co. will post 9.66 earnings per share for the current fiscal year.

In other news, Director John R. Miller III sold 2,769 shares of the stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $166.45, for a total value of $460,900.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Nerbonne purchased 600 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was bought at an average cost of $168.84 per share, with a total value of $101,304.00. The disclosure for this purchase can be found here. 1.24% of the stock is currently owned by company insiders.

About Middleby (Get Rating)

The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, 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; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.

Further Reading

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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