California Public Employees Retirement System reduced its stake in shares of Middleby Corp (NASDAQ:MIDD) by 4.1% during the 1st quarter, HoldingsChannel reports. The fund owned 82,625 shares of the industrial products company’s stock after selling 3,549 shares during the period. California Public Employees Retirement System’s holdings in Middleby were worth $10,744,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of MIDD. Enlightenment Research LLC acquired a new stake in shares of Middleby in the 4th quarter valued at $41,000. Quadrant Capital Group LLC lifted its stake in shares of Middleby by 1,724.0% in the 1st quarter. Quadrant Capital Group LLC now owns 456 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 431 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Middleby by 22.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 611 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 114 shares during the last quarter. Ellis Investment Partners LLC acquired a new stake in shares of Middleby in the 1st quarter valued at $82,000. Finally, First Manhattan Co. lifted its stake in shares of Middleby by 31.0% in the 1st quarter. First Manhattan Co. now owns 676 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 160 shares during the last quarter.
In other news, Director John R. Miller III sold 2,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $126.37, for a total transaction of $252,740.00. Following the transaction, the director now owns 16,000 shares in the company, valued at approximately $2,021,920. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Chapin Sarah Palisi sold 300 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $124.18, for a total transaction of $37,254.00. Following the transaction, the director now owns 5,100 shares in the company, valued at approximately $633,318. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,400 shares of company stock valued at $303,494. Company insiders own 1.98% of the company’s stock.
Middleby (NASDAQ:MIDD) last released its earnings results on Wednesday, May 8th. The industrial products company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.01. The firm had revenue of $686.80 million during the quarter, compared to analyst estimates of $683.01 million. Middleby had a net margin of 11.35% and a return on equity of 21.91%. The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. Equities analysts forecast that Middleby Corp will post 6.92 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on MIDD shares. BidaskClub lowered shares of Middleby from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 10th. BMO Capital Markets lifted their price objective on shares of Middleby to $150.00 and gave the company a “positive” rating in a research note on Friday, March 8th. TheStreet raised shares of Middleby from a “c+” rating to a “b” rating in a research note on Friday, January 25th. CL King raised shares of Middleby from a “buy” rating to a “strong-buy” rating and set a $160.00 price objective for the company in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group initiated coverage on shares of Middleby in a research report on Wednesday, April 3rd. They set a “hold” rating and a $135.00 target price for the company. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Middleby has a consensus rating of “Buy” and an average target price of $147.43.
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Middleby Company Profile
The Middleby Corporation designs, manufactures, markets, distributes, and services 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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
Further Reading: Correction
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