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New York State Common Retirement Fund Raises Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

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New York State Common Retirement Fund increased its position in The Middleby Co. (NASDAQ:MIDDGet Rating) by 26.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,948 shares of the industrial products company’s stock after purchasing an additional 20,143 shares during the period. New York State Common Retirement Fund owned 0.18% of Middleby worth $15,894,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its position in Middleby by 4.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,510 shares of the industrial products company’s stock valued at $575,000 after purchasing an additional 164 shares during the last quarter. ClariVest Asset Management LLC raised its holdings in Middleby by 4.2% in the first quarter. ClariVest Asset Management LLC now owns 47,199 shares of the industrial products company’s stock worth $7,738,000 after buying an additional 1,900 shares during the last quarter. Shell Asset Management Co. raised its holdings in Middleby by 14.7% in the first quarter. Shell Asset Management Co. now owns 4,313 shares of the industrial products company’s stock worth $707,000 after buying an additional 554 shares during the last quarter. Arizona State Retirement System raised its holdings in Middleby by 0.4% in the first quarter. Arizona State Retirement System now owns 15,037 shares of the industrial products company’s stock worth $2,465,000 after buying an additional 65 shares during the last quarter. Finally, Harvest Investment Services LLC purchased a new position in Middleby in the first quarter worth about $415,000. 99.88% of the stock is owned by hedge funds and other institutional investors.

Middleby Stock Up 0.3 %

Shares of NASDAQ MIDD opened at $146.73 on Friday. The Middleby Co. has a 1 year low of $120.30 and a 1 year high of $201.34. The firm has a 50-day simple moving average of $135.27 and a two-hundred day simple moving average of $154.98. The company has a market cap of $7.98 billion, a P/E ratio of 17.18 and a beta of 1.59. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.99 and a quick ratio of 0.98.

Middleby (NASDAQ:MIDDGet Rating) last released its earnings results on Thursday, August 4th. The industrial products company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.07. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $995.84 million. Middleby had a return on equity of 19.53% and a net margin of 13.91%. The company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.11 earnings per share. Research analysts anticipate that The Middleby Co. will post 9.49 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Middleby from $211.00 to $201.00 in a report on Wednesday, May 11th. KeyCorp dropped their price target on shares of Middleby from $182.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. Citigroup dropped their price target on shares of Middleby from $180.00 to $160.00 in a research report on Thursday, July 7th. TheStreet lowered shares of Middleby from a “b-” rating to a “c+” rating in a research report on Wednesday, May 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Middleby from $160.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 12th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.60.

Insider Activity

In other Middleby news, Director Robert A. Nerbonne bought 1,450 shares of the business’s stock in a transaction dated Friday, May 13th. The shares were purchased at an average price of $139.57 per share, with a total value of $202,376.50. Following the completion of the purchase, the director now owns 17,276 shares in the company, valued at approximately $2,411,211.32. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Nassem Ziyad purchased 2,035 shares of the stock in a transaction that occurred on Tuesday, May 24th. The stock was purchased at an average price of $135.83 per share, for a total transaction of $276,414.05. Following the completion of the acquisition, the director now owns 10,845 shares of the company’s stock, valued at $1,473,076.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Nerbonne purchased 1,450 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average price of $139.57 per share, with a total value of $202,376.50. Following the acquisition, the director now directly owns 17,276 shares of the company’s stock, valued at approximately $2,411,211.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 10,985 shares of company stock valued at $1,470,966. 1.24% of the stock is currently owned by insiders.

Middleby Company Profile

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The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, 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; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.

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