State of Alaska Department of Revenue Sells 285 Shares of The Middleby Corporation $MIDD

State of Alaska Department of Revenue cut its holdings in The Middleby Corporation (NASDAQ:MIDD) by 4.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,017 shares of the industrial products company’s stock after selling 285 shares during the period. State of Alaska Department of Revenue’s holdings in Middleby were worth $866,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MIDD. TCTC Holdings LLC increased its stake in shares of Middleby by 116.7% in the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 91 shares during the period. Abound Wealth Management increased its stake in Middleby by 157.5% during the second quarter. Abound Wealth Management now owns 309 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 189 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Middleby by 90.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 205 shares during the period. UMB Bank n.a. increased its stake in Middleby by 60.3% during the first quarter. UMB Bank n.a. now owns 638 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 240 shares during the period. Finally, GAMMA Investing LLC increased its stake in Middleby by 44.9% during the first quarter. GAMMA Investing LLC now owns 901 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 279 shares during the period. 98.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Middleby in a research note on Saturday, September 27th. Barclays lowered their price target on Middleby from $180.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, July 21st. Zacks Research upgraded Middleby to a “strong sell” rating in a research note on Monday, August 11th. Wolfe Research set a $163.00 price objective on Middleby and gave the company an “outperform” rating in a report on Thursday, September 4th. Finally, Canaccord Genuity Group lifted their price objective on Middleby from $162.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $160.71.

Middleby Stock Up 0.9%

NASDAQ MIDD opened at $139.82 on Tuesday. The firm has a market cap of $7.09 billion, a PE ratio of 17.79 and a beta of 1.52. The Middleby Corporation has a one year low of $118.09 and a one year high of $182.73. The stock’s 50 day simple moving average is $135.37 and its 200 day simple moving average is $140.38. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.56.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.15. The business had revenue of $977.86 million for the quarter, compared to analyst estimates of $979.59 million. Middleby had a return on equity of 14.14% and a net margin of 11.06%.Middleby’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.39 EPS. As a group, sell-side analysts forecast that The Middleby Corporation will post 9.11 earnings per share for the current fiscal year.

Middleby 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.