The Middleby Co. (NASDAQ:MIDD) Stock Holdings Increased by Quadrant Capital Group LLC

Posted by Defense World Staff on Jun 7th, 2023

Quadrant Capital Group LLC boosted its holdings in shares of The Middleby Co. (NASDAQ:MIDD – Get Rating) by 40.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 433 shares of the industrial products company’s stock after buying an additional 124 shares during the period. Quadrant Capital Group LLC’s holdings in Middleby were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MIDD. Amalgamated Bank grew its stake in Middleby by 9.6% in the fourth quarter. Amalgamated Bank now owns 42,699 shares of the industrial products company’s stock valued at $5,717,000 after purchasing an additional 3,754 shares in the last quarter. SYSTM Wealth Solutions LLC purchased a new position in Middleby in the fourth quarter valued at about $272,000. Schroder Investment Management Group purchased a new position in Middleby in the fourth quarter valued at about $409,000. Victory Capital Management Inc. grew its stake in Middleby by 8.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,651,510 shares of the industrial products company’s stock valued at $355,037,000 after purchasing an additional 208,154 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Middleby by 12.7% in the fourth quarter. Franklin Resources Inc. now owns 67,950 shares of the industrial products company’s stock valued at $9,099,000 after purchasing an additional 7,640 shares in the last quarter. 98.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Middleby

In related news, Director Chapin Sarah Palisi sold 250 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $140.94, for a total transaction of $35,235.00. Following the completion of the sale, the director now directly owns 7,256 shares of the company’s stock, valued at approximately $1,022,660.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.16% of the company’s stock.

Analysts Set New Price Targets

MIDD has been the subject of several recent analyst reports. Benchmark upped their price target on Middleby from $175.00 to $180.00 in a research note on Monday, May 15th. TheStreet upgraded Middleby from a “c+” rating to a “b-” rating in a research note on Tuesday, February 7th. KeyCorp upped their price target on Middleby from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. BMO Capital Markets increased their target price on Middleby from $170.00 to $175.00 in a research note on Monday, May 15th. Finally, StockNews.com initiated coverage on Middleby in a research note on Thursday, May 18th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $169.63.

Middleby Trading Up 3.0 %

Middleby stock opened at $140.96 on Wednesday. The Middleby Co. has a 12 month low of $120.30 and a 12 month high of $162.02. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average price of $140.10 and a two-hundred day moving average price of $143.30. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 17.07 and a beta of 1.54.

About Middleby

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The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.