Middleby Corp (NASDAQ:MIDD) Shares Purchased by Peregrine Capital Management LLC

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Peregrine Capital Management LLC raised its holdings in shares of Middleby Corp (NASDAQ:MIDD) by 47.9% in the second quarter, Holdings Channel.com reports. The firm owned 71,319 shares of the industrial products company’s stock after buying an additional 23,095 shares during the period. Peregrine Capital Management LLC’s holdings in Middleby were worth $5,630,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jacobi Capital Management LLC grew its stake in Middleby by 1,398.7% during the 2nd quarter. Jacobi Capital Management LLC now owns 4,496 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 4,196 shares in the last quarter. Verus Capital Partners LLC acquired a new position in shares of Middleby in the 4th quarter worth approximately $31,000. TRUE Private Wealth Advisors grew its position in shares of Middleby by 587.4% in the 2nd quarter. TRUE Private Wealth Advisors now owns 1,258 shares of the industrial products company’s stock worth $99,000 after acquiring an additional 1,075 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Middleby by 532.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,886 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,588 shares in the last quarter. Finally, Seeyond grew its position in shares of Middleby by 34.2% in the 1st quarter. Seeyond now owns 16,472 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 4,201 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Shares of NASDAQ MIDD opened at $83.06 on Friday. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 12.94 and a beta of 1.64. Middleby Corp has a 12-month low of $41.73 and a 12-month high of $136.20. The company has a current ratio of 2.48, a quick ratio of 1.46 and a debt-to-equity ratio of 1.15. The stock’s 50 day simple moving average is $78.89 and its 200 day simple moving average is $80.40.

Middleby (NASDAQ:MIDD) last announced its earnings results on Thursday, May 7th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.07. The firm had revenue of $677.50 million for the quarter, compared to the consensus estimate of $677.37 million. Middleby had a return on equity of 20.40% and a net margin of 12.10%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 EPS. As a group, equities analysts forecast that Middleby Corp will post 4.02 earnings per share for the current fiscal year.

Several research analysts have recently commented on the company. Citigroup lifted their target price on Middleby from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. KeyCorp upgraded Middleby from a “sector weight” rating to an “overweight” rating and set a $90.00 target price for the company in a research report on Monday, June 29th. They noted that the move was a valuation call. CL King initiated coverage on Middleby in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $86.00 target price for the company. ValuEngine raised Middleby from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, BidaskClub raised Middleby from a “sell” rating to a “hold” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $95.20.

In other Middleby news, Director Robert A. Nerbonne bought 1,540 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average price of $63.67 per share, with a total value of $98,051.80. Following the purchase, the director now directly owns 2,443 shares of the company’s stock, valued at $155,545.81. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert A. Nerbonne bought 1,670 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $61.06 per share, for a total transaction of $101,970.20. Following the purchase, the director now directly owns 2,443 shares in the company, valued at $149,169.58. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,660 shares of company stock worth $495,723 in the last ninety days. 2.41% of the stock is owned by company insiders.

Middleby Profile

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Want to see what other hedge funds are holding MIDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Middleby Corp (NASDAQ:MIDD).

Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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