California Public Employees Retirement System Has $12.68 Million Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

California Public Employees Retirement System lowered its stake in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,629 shares of the industrial products company's stock after selling 6,131 shares during the period. California Public Employees Retirement System owned 0.17% of Middleby worth $12,682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. increased its holdings in shares of Middleby by 41.1% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock worth $54,000 after acquiring an additional 116 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock worth $77,000 after acquiring an additional 78 shares during the last quarter. GAMMA Investing LLC grew its holdings in Middleby by 27.2% in the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company's stock valued at $84,000 after buying an additional 133 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Middleby in the 3rd quarter valued at $88,000. Finally, Crewe Advisors LLC grew its holdings in Middleby by 73.2% in the 4th quarter. Crewe Advisors LLC now owns 710 shares of the industrial products company's stock valued at $96,000 after buying an additional 300 shares in the last quarter. Institutional investors own 98.55% of the company's stock.

Middleby Price Performance

Shares of MIDD stock traded down $9.62 on Thursday, hitting $133.93. 217,652 shares of the company's stock were exchanged, compared to its average volume of 646,580. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $182.73. The stock has a market cap of $7.18 billion, a P/E ratio of 18.66 and a beta of 1.44. The company has a 50 day moving average of $157.31 and a 200 day moving average of $146.21.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.38. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. Middleby's revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the company earned $2.65 EPS. On average, equities research analysts predict that The Middleby Co. will post 9.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MIDD. Jefferies Financial Group reaffirmed a "hold" rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. Canaccord Genuity Group increased their target price on Middleby from $192.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. KeyCorp reduced their target price on Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a report on Tuesday. Robert W. Baird increased their target price on Middleby from $157.00 to $227.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their target price on Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $179.43.

Insider Buying and Selling at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the transaction, the director now directly owns 6,111 shares in the company, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.16% of the company's stock.

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.