Vanguard Group Inc. Reduces Stock Position in The Middleby Corporation $MIDD

Vanguard Group Inc. lessened its stake in The Middleby Corporation (NASDAQ:MIDD) by 7.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,413,956 shares of the industrial products company’s stock after selling 362,324 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Middleby worth $586,747,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Middleby in the 2nd quarter valued at $30,000. Allworth Financial LP grew its holdings in shares of Middleby by 168.8% in the second 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 period. TFC Financial Management Inc. grew its holdings in shares of Middleby by 23,000.0% in the third quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 230 shares during the period. AdvisorShares Investments LLC acquired a new stake in Middleby during the second quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC raised its stake in Middleby by 280.2% during the second quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Price Performance

Shares of NASDAQ MIDD opened at $161.01 on Wednesday. The stock’s 50-day simple moving average is $153.89 and its 200-day simple moving average is $138.83. The firm has a market capitalization of $8.11 billion, a PE ratio of -36.59 and a beta of 1.40. The Middleby Corporation has a fifty-two week low of $110.82 and a fifty-two week high of $182.73. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 2.07.

Insider Buying and Selling at Middleby

In related news, Director Robert A. Nerbonne bought 780 shares of the stock in a transaction dated Tuesday, December 9th. The stock was acquired at an average price of $128.52 per share, for a total transaction of $100,245.60. Following the acquisition, the director owned 21,471 shares in the company, valued at approximately $2,759,452.92. This represents a 3.77% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Zacks Research cut shares of Middleby from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. KeyCorp reaffirmed an “overweight” rating on shares of Middleby in a research note on Friday, December 5th. JPMorgan Chase & Co. boosted their price target on shares of Middleby from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Wall Street Zen raised Middleby from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Barclays set a $168.00 price objective on Middleby and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Five investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.83.

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.