Corebridge Financial Inc. Has $9.03 Million Holdings in The Middleby Corporation $MIDD

Corebridge Financial Inc. lessened its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 2.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,412 shares of the industrial products company’s stock after selling 1,453 shares during the period. Corebridge Financial Inc.’s holdings in Middleby were worth $9,029,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in Middleby by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,029,484 shares of the industrial products company’s stock worth $460,422,000 after buying an additional 1,133,931 shares during the last quarter. Turtle Creek Asset Management Inc. increased its position in Middleby by 2.9% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 1,866,359 shares of the industrial products company’s stock worth $252,798,000 after buying an additional 53,276 shares during the last quarter. Ariel Investments LLC boosted its position in Middleby by 6.4% during the fourth quarter. Ariel Investments LLC now owns 1,198,179 shares of the industrial products company’s stock worth $162,293,000 after purchasing an additional 72,031 shares during the period. Garden Investment Management L.P. bought a new position in Middleby during the fourth quarter worth about $101,958,000. Finally, Clarkston Capital Partners LLC boosted its position in Middleby by 1.5% during the first quarter. Clarkston Capital Partners LLC now owns 688,560 shares of the industrial products company’s stock worth $104,647,000 after purchasing an additional 10,310 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group cut their target price on shares of Middleby from $186.00 to $162.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Zacks Research upgraded shares of Middleby to a “strong sell” rating in a research report on Monday, August 11th. Robert W. Baird cut their target price on shares of Middleby from $188.00 to $162.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Wall Street Zen lowered shares of Middleby from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Barclays decreased their price target on Middleby from $180.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $159.00.

Middleby Trading Up 1.1%

Shares of MIDD opened at $137.78 on Thursday. The business’s 50-day moving average price is $141.02 and its 200-day moving average price is $145.51. The Middleby Corporation has a twelve month low of $118.09 and a twelve month high of $182.73. The stock has a market cap of $6.98 billion, a PE ratio of 17.53 and a beta of 1.58. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.15. The firm had revenue of $977.86 million for the quarter, compared to analysts’ expectations of $979.59 million. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.39 earnings per share. On average, equities analysts forecast that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

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.