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

California Public Employees Retirement System reduced its stake in shares of The Middleby Co. (NASDAQ:MIDDGet Rating) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,395 shares of the industrial products company’s stock after selling 5,201 shares during the quarter. California Public Employees Retirement System owned about 0.21% of Middleby worth $23,295,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Middleby by 1.4% during the 4th quarter. Principal Financial Group Inc. now owns 391,787 shares of the industrial products company’s stock worth $77,088,000 after buying an additional 5,441 shares during the period. Arbor Capital Management Inc. ADV bought a new position in shares of Middleby during the 4th quarter valued at about $590,000. Alps Advisors Inc. bought a new position in shares of Middleby during the 4th quarter valued at about $214,000. UMB Bank N A MO bought a new position in shares of Middleby during the 4th quarter valued at about $142,000. Finally, Distillate Capital Partners LLC bought a new position in shares of Middleby during the 4th quarter valued at about $4,388,000. Institutional investors own 99.88% of the company’s stock.

NASDAQ MIDD opened at $139.73 on Friday. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 16.36 and a beta of 1.56. The stock’s 50 day moving average price is $157.63 and its two-hundred day moving average price is $176.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.95 and a current ratio of 1.99. The Middleby Co. has a 52 week low of $127.02 and a 52 week high of $201.34.

Middleby (NASDAQ:MIDDGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Middleby had a return on equity of 19.53% and a net margin of 13.91%. The company had revenue of $994.68 million for the quarter, compared to analysts’ expectations of $934.97 million. During the same quarter in the prior year, the business posted $1.79 EPS. The business’s revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts forecast that The Middleby Co. will post 9.66 EPS for the current year.

Several equities analysts have recently weighed in on MIDD shares. TheStreet cut Middleby from a “b-” rating to a “c+” rating in a report on Wednesday. Zacks Investment Research cut Middleby from a “buy” rating to a “hold” rating and set a $180.00 price objective on the stock. in a report on Friday, February 25th. Robert W. Baird cut their price objective on Middleby from $211.00 to $201.00 in a report on Wednesday. Citigroup cut their target price on Middleby from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, April 4th. Finally, JPMorgan Chase & Co. cut their target price on Middleby from $198.00 to $195.00 and set a “neutral” rating on the stock in a research note on Monday, March 28th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $195.00.

In related news, Director John R. Miller III sold 2,769 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $166.45, for a total transaction of $460,900.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert A. Nerbonne bought 600 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average cost of $168.84 per share, for a total transaction of $101,304.00. The disclosure for this purchase can be found here. Corporate insiders own 1.24% of the company’s stock.

Middleby Profile (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

Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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