The Middleby Corp. (NASDAQ:MIDD) Director Robert B. Lamb sold 3,422 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $135.83, for a total value of $464,810.26. Following the transaction, the director now directly owns 15,078 shares in the company, valued at approximately $2,048,044.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of The Middleby Corp. (NASDAQ:MIDD) opened at 136.15 on Wednesday. The company has a 50 day moving average price of $120.49 and a 200 day moving average price of $121.65. The Middleby Corp. has a one year low of $79.11 and a one year high of $140.98. The company has a market cap of $7.83 billion, a P/E ratio of 30.66 and a beta of 1.44.

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MIDD has been the topic of a number of research analyst reports. Zacks Investment Research raised The Middleby Corp. from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Tuesday, August 16th. Deutsche Bank AG initiated coverage on The Middleby Corp. in a report on Tuesday, September 6th. They set a “hold” rating and a $123.00 target price on the stock. Finally, Wellington Shields raised The Middleby Corp. from a “hold” rating to an “accumulate” rating in a report on Friday, September 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $124.67.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of The Middleby Corp. by 0.6% in the second quarter. IFP Advisors Inc now owns 876 shares of the company’s stock valued at $101,000 after buying an additional 5 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of The Middleby Corp. by 305.6% in the third quarter. BNP Paribas Arbitrage SA now owns 941 shares of the company’s stock valued at $116,000 after buying an additional 709 shares during the last quarter. Johnson Financial Group Inc. increased its position in shares of The Middleby Corp. by 62.0% in the second quarter. Johnson Financial Group Inc. now owns 1,377 shares of the company’s stock valued at $159,000 after buying an additional 527 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of The Middleby Corp. during the third quarter valued at approximately $198,000. Finally, WFG Advisors LP increased its position in shares of The Middleby Corp. by 18.1% in the second quarter. WFG Advisors LP now owns 1,754 shares of the company’s stock valued at $202,000 after buying an additional 269 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

About The Middleby Corp.

The Middleby Corporation (Middleby) is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.

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