State of New Jersey Common Pension Fund D Reduces Holdings in The Middleby Co. (NASDAQ:MIDD)

State of New Jersey Common Pension Fund D cut its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 7.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,833 shares of the industrial products company’s stock after selling 2,139 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Middleby were worth $3,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. South Dakota Investment Council boosted its holdings in Middleby by 2.8% during the 4th quarter. South Dakota Investment Council now owns 20,167 shares of the industrial products company’s stock valued at $2,968,000 after acquiring an additional 548 shares during the period. Duality Advisers LP raised its position in Middleby by 224.9% during the 4th quarter. Duality Advisers LP now owns 24,751 shares of the industrial products company’s stock valued at $3,643,000 after purchasing an additional 17,133 shares during the last quarter. Handelsbanken Fonder AB raised its position in Middleby by 7.5% during the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the industrial products company’s stock valued at $1,266,000 after purchasing an additional 600 shares during the last quarter. CWM LLC raised its position in shares of Middleby by 80.2% in the 4th quarter. CWM LLC now owns 510 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 227 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Middleby by 230.1% in the 4th quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 168 shares in the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Middleby Stock Performance

Middleby stock opened at $141.25 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $7.57 billion, a P/E ratio of 19.06 and a beta of 1.56. The stock’s 50 day moving average is $151.03 and its 200 day moving average is $139.20. The Middleby Co. has a twelve month low of $109.59 and a twelve month high of $161.01.

Middleby (NASDAQ:MIDD) last posted its earnings results on Tuesday, February 20th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.21. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 EPS. On average, equities research analysts predict that The Middleby Co. will post 10.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MIDD shares. Jefferies Financial Group increased their target price on Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. TheStreet raised Middleby from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Finally, Canaccord Genuity Group upped their price target on Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.38.

Insiders Place Their Bets

In related news, Director Cathy L. Mccarthy sold 1,000 shares of Middleby stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total value of $153,120.00. Following the completion of the sale, the director now owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Chapin Sarah Palisi sold 350 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total value of $53,014.50. Following the sale, the director now directly owns 6,306 shares in the company, valued at $955,169.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cathy L. Mccarthy sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total value of $153,120.00. Following the sale, the director now directly owns 7,971 shares in the company, valued at $1,220,519.52. The disclosure for this sale can be found here. Corporate insiders own 1.16% of the company’s stock.

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.