Corebridge Financial Inc. Has $8.24 Million Position in The Middleby Co. (NASDAQ:MIDD)

Corebridge Financial Inc. cut its position in shares of The Middleby Co. (NASDAQ:MIDD) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,865 shares of the industrial products company’s stock after selling 2,717 shares during the period. Corebridge Financial Inc. owned 0.11% of Middleby worth $8,244,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Advantage Alpha Capital Partners LP raised its stake in Middleby by 14.8% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 52,540 shares of the industrial products company’s stock valued at $7,117,000 after buying an additional 6,780 shares during the period. Vanguard Group Inc. increased its holdings in shares of Middleby by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,260,935 shares of the industrial products company’s stock worth $712,594,000 after acquiring an additional 21,771 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Middleby in the 4th quarter valued at $1,490,000. Sei Investments Co. lifted its holdings in Middleby by 3.7% during the 4th quarter. Sei Investments Co. now owns 654,641 shares of the industrial products company’s stock valued at $88,671,000 after purchasing an additional 23,577 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Middleby by 20.9% during the fourth quarter. Teacher Retirement System of Texas now owns 10,269 shares of the industrial products company’s stock worth $1,391,000 after purchasing an additional 1,773 shares during the period. 98.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Chapin Sarah Palisi sold 500 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the transaction, the director now owns 6,111 shares of the company’s stock, valued at approximately $999,209.61. The trade was a 7.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.16% of the company’s stock.

Middleby Stock Up 0.4 %

MIDD stock opened at $157.13 on Friday. The company has a market cap of $8.43 billion, a PE ratio of 21.67 and a beta of 1.72. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $182.73. The business has a 50-day simple moving average of $161.07 and a 200 day simple moving average of $145.78.

Middleby (NASDAQ:MIDD) last issued its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.50 by $0.38. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.65 EPS. Sell-side analysts anticipate that The Middleby Co. will post 9.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MIDD has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. KeyCorp raised their price objective on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Jefferies Financial Group reiterated a “hold” rating and set a $160.00 target price (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Barclays lifted their price target on Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.86.

Middleby Company 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.