Teacher Retirement System of Texas Purchases 3,111 Shares of The Middleby Corporation (NASDAQ:MIDD)

Teacher Retirement System of Texas lifted its holdings in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 30.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,380 shares of the industrial products company's stock after acquiring an additional 3,111 shares during the quarter. Teacher Retirement System of Texas' holdings in Middleby were worth $2,033,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MIDD. Versant Capital Management Inc boosted its stake in Middleby by 760.0% during the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 228 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Middleby during the fourth quarter valued at approximately $71,000. Coppell Advisory Solutions LLC increased its holdings in shares of Middleby by 220.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company's stock valued at $82,000 after acquiring an additional 417 shares during the last quarter. UMB Bank n.a. raised its position in shares of Middleby by 60.3% during the 1st 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 in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Middleby by 286.8% in the fourth quarter. Jones Financial Companies Lllp now owns 762 shares of the industrial products company's stock worth $103,000 after purchasing an additional 565 shares during the period. Institutional investors and hedge funds own 98.55% of the company's stock.

Middleby Trading Down 0.4%

Shares of NASDAQ:MIDD traded down $0.66 during midday trading on Friday, reaching $149.50. The company had a trading volume of 1,154,189 shares, compared to its average volume of 748,257. The company has a fifty day simple moving average of $145.69 and a two-hundred day simple moving average of $147.87. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 18.69 and a beta of 1.57. The Middleby Corporation has a 1-year low of $121.70 and a 1-year high of $182.73. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.73 and a current ratio of 2.72.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.94 by $0.14. Middleby had a net margin of 11.26% and a return on equity of 14.47%. The company had revenue of $906.63 million during the quarter, compared to analysts' expectations of $941.46 million. During the same period last year, the company posted $1.89 earnings per share. The business's revenue for the quarter was down 2.2% on a year-over-year basis. Research analysts predict that The Middleby Corporation will post 9.11 earnings per share for the current year.

Insider Buying and Selling at Middleby

In other Middleby news, Director Edward P. Garden acquired 249,339 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was purchased at an average cost of $149.59 per share, for a total transaction of $37,298,621.01. Following the transaction, the director owned 3,088,263 shares of the company's stock, valued at $461,973,262.17. The trade was a 8.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 640,968 shares of company stock worth $93,495,270 in the last quarter. Insiders own 6.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MIDD. Canaccord Genuity Group lowered their target price on Middleby from $200.00 to $186.00 and set a "buy" rating for the company in a report on Thursday, May 8th. KeyCorp dropped their price target on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen upgraded Middleby from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Robert W. Baird lowered their target price on Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Middleby has a consensus rating of "Moderate Buy" and a consensus price target of $168.14.

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.