415,705 Shares in The Middleby Corporation $MIDD Bought by SG Capital Management LLC

SG Capital Management LLC purchased a new stake in shares of The Middleby Corporation (NASDAQ:MIDD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 415,705 shares of the industrial products company’s stock, valued at approximately $55,260,000. Middleby makes up 4.9% of SG Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. SG Capital Management LLC owned 0.82% of Middleby as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Middleby during the second quarter worth about $30,000. Allworth Financial LP boosted its stake in Middleby by 168.8% during the 2nd quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 130 shares during the last quarter. TFC Financial Management Inc. increased its holdings in Middleby by 23,000.0% during the 3rd quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 230 shares in the last quarter. AdvisorShares Investments LLC bought a new position in shares of Middleby in the second quarter valued at approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Middleby during the third quarter worth $46,000. 98.55% of the stock is owned by institutional investors.

Insider Activity

In other Middleby news, Director Robert A. Nerbonne purchased 780 shares of the stock in a transaction on Tuesday, December 9th. The stock was acquired at an average price of $128.52 per share, with a total value of $100,245.60. Following the transaction, the director directly owned 21,471 shares of the company’s stock, valued at approximately $2,759,452.92. This trade represents a 3.77% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.18% of the stock is owned by insiders.

Analyst Ratings Changes

MIDD has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their price target on shares of Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, December 5th. JPMorgan Chase & Co. boosted their target price on shares of Middleby from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Barclays set a $168.00 price target on shares of Middleby and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. KeyCorp reiterated an “overweight” rating on shares of Middleby in a research note on Friday, December 5th. Finally, Zacks Research lowered Middleby from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Middleby has an average rating of “Moderate Buy” and a consensus price target of $163.83.

Middleby Trading Up 0.5%

NASDAQ:MIDD opened at $164.39 on Thursday. The firm has a market capitalization of $8.28 billion, a P/E ratio of -37.36 and a beta of 1.40. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average of $152.81 and a 200 day moving average of $137.88. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $182.73.

About Middleby

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid?cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.