California Public Employees Retirement System Cuts Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

California Public Employees Retirement System decreased its holdings in shares of The Middleby Co. (NASDAQ:MIDDGet Rating) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,417 shares of the industrial products company’s stock after selling 4,703 shares during the quarter. California Public Employees Retirement System owned 0.20% of Middleby worth $13,340,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Boston Partners lifted its position in Middleby by 73.8% in the 1st quarter. Boston Partners now owns 1,105,491 shares of the industrial products company’s stock worth $180,804,000 after buying an additional 469,311 shares during the last quarter. Select Equity Group L.P. lifted its position in Middleby by 91.8% in the 1st quarter. Select Equity Group L.P. now owns 690,159 shares of the industrial products company’s stock worth $113,145,000 after buying an additional 330,359 shares during the last quarter. Victory Capital Management Inc. lifted its position in Middleby by 9.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,344,589 shares of the industrial products company’s stock worth $293,918,000 after buying an additional 205,222 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Middleby in the 2nd quarter worth approximately $24,252,000. Finally, National Bank of Canada FI lifted its position in Middleby by 638.9% in the second quarter. National Bank of Canada FI now owns 219,090 shares of the industrial products company’s stock valued at $27,461,000 after purchasing an additional 189,438 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MIDD. Robert W. Baird lowered their price objective on Middleby from $145.00 to $140.00 in a research report on Friday, November 11th. Canaccord Genuity Group began coverage on Middleby in a research report on Wednesday, November 16th. They issued a “buy” rating for the company. Benchmark lowered their price objective on Middleby to $170.00 in a research report on Tuesday, November 15th. StockNews.com began coverage on Middleby in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Canaccord Genuity Group assumed coverage on Middleby in a research report on Thursday. They issued a “buy” rating and a $171.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Middleby presently has a consensus rating of “Moderate Buy” and an average price target of $166.86.

Insider Buying and Selling

In related news, Director Chapin Sarah Palisi sold 250 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $142.86, for a total value of $35,715.00. Following the sale, the director now directly owns 6,985 shares of the company’s stock, valued at $997,877.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Chapin Sarah Palisi sold 250 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $142.86, for a total value of $35,715.00. Following the sale, the director now directly owns 6,985 shares of the company’s stock, valued at $997,877.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John R. Miller III sold 1,161 shares of the company’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $139.26, for a total value of $161,680.86. Following the completion of the sale, the director now directly owns 11,880 shares in the company, valued at $1,654,408.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,636 shares of company stock valued at $230,696 over the last ninety days. Company insiders own 1.24% of the company’s stock.

Middleby Price Performance

MIDD opened at $138.92 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.95 and a current ratio of 2.08. The Middleby Co. has a 52-week low of $120.30 and a 52-week high of $201.34. The stock has a market capitalization of $7.49 billion, a PE ratio of 19.00 and a beta of 1.53. The stock’s 50 day moving average price is $134.83 and its 200-day moving average price is $138.60.

Middleby Company Profile

(Get Rating)

The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.

Recommended Stories

Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.