Caprock Group LLC Purchases Shares of 6,444 The Middleby Corporation $MIDD

Caprock Group LLC acquired a new position in The Middleby Corporation (NASDAQ:MIDD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,444 shares of the industrial products company’s stock, valued at approximately $882,000.

A number of other large investors also recently modified their holdings of MIDD. Clarkston Capital Partners LLC lifted its position in shares of Middleby by 0.6% in the second quarter. Clarkston Capital Partners LLC now owns 692,764 shares of the industrial products company’s stock valued at $99,758,000 after acquiring an additional 4,204 shares in the last quarter. Sei Investments Co. raised its stake in Middleby by 4.0% during the 2nd quarter. Sei Investments Co. now owns 680,688 shares of the industrial products company’s stock valued at $98,019,000 after purchasing an additional 26,022 shares during the period. Franklin Resources Inc. lifted its holdings in Middleby by 27.0% in the 2nd quarter. Franklin Resources Inc. now owns 621,794 shares of the industrial products company’s stock worth $89,538,000 after purchasing an additional 132,191 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Middleby by 21.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 592,168 shares of the industrial products company’s stock worth $85,272,000 after purchasing an additional 103,930 shares during the period. Finally, Aviso Financial Inc. grew its holdings in Middleby by 2.3% during the 2nd quarter. Aviso Financial Inc. now owns 332,123 shares of the industrial products company’s stock valued at $47,826,000 after buying an additional 7,322 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Down 0.1%

Shares of NASDAQ MIDD opened at $163.93 on Monday. The Middleby Corporation has a 1 year low of $110.82 and a 1 year high of $182.73. The firm has a 50-day simple moving average of $150.94 and a two-hundred day simple moving average of $137.40. The company has a market cap of $8.26 billion, a P/E ratio of -37.26 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.07 and a quick ratio of 1.10.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MIDD shares. KeyCorp restated an “overweight” rating on shares of Middleby in a research report on Friday, December 5th. Barclays set a $168.00 price target on Middleby and gave the company an “overweight” rating in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Middleby in a report on Monday, December 29th. JPMorgan Chase & Co. raised their target price on shares of Middleby from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Canaccord Genuity Group upped their price target on shares of Middleby from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Middleby presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.83.

Insiders Place Their Bets

In related news, Director Robert A. Nerbonne bought 780 shares of the stock in a transaction dated Tuesday, December 9th. The stock was purchased at an average cost of $128.52 per share, with a total value of $100,245.60. Following the completion of the purchase, the director owned 21,471 shares of the company’s stock, valued at $2,759,452.92. This trade represents a 3.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.18% of the stock is currently owned by insiders.

Middleby Profile

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.