Teacher Retirement System of Texas Acquires 670 Shares of The Middleby Co. (NASDAQ:MIDD)

Posted by Defense World Staff on Oct 5th, 2023

Teacher Retirement System of Texas lifted its holdings in shares of The Middleby Co. (NASDAQ:MIDD – Free Report) by 5.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,770 shares of the industrial products company’s stock after purchasing an additional 670 shares during the period. Teacher Retirement System of Texas’ holdings in Middleby were worth $2,036,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Quantinno Capital Management LP grew its holdings in shares of Middleby by 1.3% during the first quarter. Quantinno Capital Management LP now owns 5,661 shares of the industrial products company’s stock worth $830,000 after purchasing an additional 74 shares during the last quarter. Townsquare Capital LLC grew its holdings in shares of Middleby by 1.4% during the fourth quarter. Townsquare Capital LLC now owns 5,940 shares of the industrial products company’s stock worth $795,000 after purchasing an additional 83 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Middleby by 29.0% during the first quarter. First Horizon Advisors Inc. now owns 414 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 93 shares during the last quarter. Cardinal Capital Management grew its holdings in shares of Middleby by 1.8% during the second quarter. Cardinal Capital Management now owns 5,405 shares of the industrial products company’s stock worth $799,000 after purchasing an additional 98 shares during the last quarter. Finally, Utah Retirement Systems grew its holdings in shares of Middleby by 1.0% during the fourth quarter. Utah Retirement Systems now owns 9,641 shares of the industrial products company’s stock worth $1,291,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 96.66% of the company’s stock.

Middleby Trading Up 1.2 %

NASDAQ:MIDD opened at $125.14 on Thursday. The Middleby Co. has a 1-year low of $122.92 and a 1-year high of $162.02. The business’s 50-day moving average price is $140.25 and its two-hundred day moving average price is $141.08. The company has a current ratio of 2.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 14.99 and a beta of 1.55.

Middleby (NASDAQ:MIDD – Get Free Report) last released its earnings results on Thursday, August 3rd. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.15. Middleby had a return on equity of 18.15% and a net margin of 11.14%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $2.23 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that The Middleby Co. will post 9.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Canaccord Genuity Group restated a “buy” rating and set a $173.00 target price on shares of Middleby in a report on Wednesday, September 6th. StockNews.com began coverage on Middleby in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup cut their price target on Middleby from $166.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, September 22nd. Finally, Benchmark cut their price target on Middleby from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Middleby has a consensus rating of “Moderate Buy” and an average target price of $172.71.

Check Out Our Latest Stock Analysis on Middleby

Insiders Place Their Bets

In other Middleby news, Director Chapin Sarah Palisi sold 450 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $142.00, for a total value of $63,900.00. Following the completion of the sale, the director now directly owns 6,806 shares in the company, valued at $966,452. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Middleby news, Director Chapin Sarah Palisi sold 450 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $142.00, for a total value of $63,900.00. Following the completion of the sale, the director now directly owns 6,806 shares in the company, valued at $966,452. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James K. Pool III sold 1,500 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $149.01, for a total value of $223,515.00. Following the completion of the sale, the chief technology officer now owns 37,658 shares of the company’s stock, valued at $5,611,418.58. The disclosure for this sale can be found here. Insiders sold 4,950 shares of company stock worth $732,650 over the last ninety days. 1.16% of the stock is currently owned by corporate insiders.

About Middleby

(Free Report)

The Middleby Corporation designs, manufactures, markets, 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, and IoT solutions.

Teacher Retirement System of Texas Acquires 670 Shares of The Middleby Co. (NASDAQ:MIDD)

Middleby Trading Up 1.2 %

Wall Street Analysts Forecast Growth

Insiders Place Their Bets

About Middleby

Further Reading

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