South Dakota Investment Council Reduces Holdings in The Middleby Corporation (NASDAQ:MIDD)

South Dakota Investment Council decreased its holdings in The Middleby Corporation (NASDAQ:MIDD - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,245 shares of the industrial products company's stock after selling 7,000 shares during the quarter. South Dakota Investment Council's holdings in Middleby were worth $2,773,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MIDD. Versant Capital Management Inc grew its position in shares of Middleby by 760.0% during the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock worth $39,000 after buying an additional 228 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Middleby during the 4th quarter worth $71,000. Coppell Advisory Solutions LLC raised its position in shares of Middleby by 220.6% during 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. lifted its stake in shares of Middleby by 60.3% in the 1st quarter. UMB Bank n.a. now owns 638 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 240 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Middleby by 44.9% in the 1st quarter. GAMMA Investing LLC now owns 901 shares of the industrial products company's stock worth $137,000 after purchasing an additional 279 shares during the last quarter. Institutional investors own 98.55% of the company's stock.

Analyst Ratings Changes

MIDD has been the subject of a number of research reports. Wall Street Zen cut Middleby from a "buy" rating to a "hold" rating in a research note on Sunday. Canaccord Genuity Group lowered their price objective on shares of Middleby from $200.00 to $186.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Robert W. Baird cut their price objective on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, KeyCorp lowered their target price on Middleby from $185.00 to $175.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $168.14.

Middleby Stock Down 0.6%

Shares of Middleby stock traded down $0.89 during trading on Friday, reaching $146.48. 504,527 shares of the company traded hands, compared to its average volume of 749,364. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.72 and a quick ratio of 1.73. The firm has a market capitalization of $7.86 billion, a PE ratio of 18.31 and a beta of 1.57. The company has a 50 day moving average price of $146.57 and a 200-day moving average price of $148.19. The Middleby Corporation has a 1-year low of $121.70 and a 1-year high of $182.73.

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

Insider Buying and Selling at Middleby

In other Middleby news, Director Edward P. Garden acquired 249,339 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average cost of $149.59 per share, with a total value of $37,298,621.01. Following the acquisition, the director owned 3,088,263 shares in the company, valued at approximately $461,973,262.17. This represents a 8.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders acquired 640,968 shares of company stock worth $93,495,270. 6.18% of the stock is currently owned by corporate insiders.

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.