The Middleby Co. (NASDAQ:MIDD) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,633 shares of the industrial products company’s stock after selling 900 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Middleby were worth $2,595,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MIDD. Envestnet Asset Management Inc. lifted its stake in shares of Middleby by 54.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 38,356 shares of the industrial products company’s stock worth $4,910,000 after purchasing an additional 13,493 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Middleby during the 3rd quarter worth $2,740,000. Brandywine Global Investment Management LLC lifted its stake in shares of Middleby by 9.8% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 27,178 shares of the industrial products company’s stock worth $3,479,000 after purchasing an additional 2,427 shares during the period. Clear Street Markets LLC purchased a new position in shares of Middleby during the 3rd quarter worth $50,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Middleby during the 3rd quarter worth $969,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Price Performance

Shares of NASDAQ:MIDD opened at $126.34 on Thursday. The Middleby Co. has a 12 month low of $109.59 and a 12 month high of $161.01. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 17.60 and a beta of 1.60. The stock’s 50 day moving average price is $134.00 and its 200 day moving average price is $142.20. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.40 and a quick ratio of 1.28.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.16). The business had revenue of $926.90 million during the quarter, compared to analyst estimates of $979.05 million. Middleby had a return on equity of 15.88% and a net margin of 9.82%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.19 EPS. Equities research analysts anticipate that The Middleby Co. will post 9.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Middleby news, Director John R. Miller III sold 2,000 shares of Middleby stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $126.32, for a total transaction of $252,640.00. Following the transaction, the director now directly owns 10,931 shares in the company, valued at approximately $1,380,803.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Chapin Sarah Palisi sold 235 shares of Middleby stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total value of $32,237.30. Following the completion of the sale, the director now owns 7,211 shares of the company’s stock, valued at approximately $989,204.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John R. Miller III sold 2,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $126.32, for a total transaction of $252,640.00. Following the transaction, the director now directly owns 10,931 shares of the company’s stock, valued at approximately $1,380,803.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,385 shares of company stock worth $304,134. Corporate insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

MIDD has been the topic of several research reports. JPMorgan Chase & Co. lowered Middleby from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $145.00 to $118.00 in a research report on Wednesday, May 22nd. William Blair raised Middleby to a “hold” rating in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group cut their target price on Middleby from $166.00 to $159.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.43.

Middleby Company 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.