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

Vanguard Group Inc. decreased its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,413,956 shares of the industrial products company’s stock after selling 362,324 shares during the period. Vanguard Group Inc. owned 8.71% of Middleby worth $586,747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Middleby in the 2nd quarter worth $30,000. Allworth Financial LP raised its stake in 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 buying an additional 130 shares during the last quarter. TFC Financial Management Inc. grew its stake in shares of Middleby by 23,000.0% during the third quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 230 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Middleby during the second quarter valued at about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Middleby in the 3rd quarter valued at approximately $46,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Middleby Stock Performance

NASDAQ MIDD opened at $161.01 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.07 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $153.89 and its 200-day simple moving average is $138.83. The company has a market cap of $8.11 billion, a PE ratio of -36.59 and a beta of 1.40. The Middleby Corporation has a 1-year low of $110.82 and a 1-year high of $182.73.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of Middleby from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. KeyCorp restated an “overweight” rating on shares of Middleby in a research note on Friday, December 5th. Wall Street Zen upgraded Middleby from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Canaccord Genuity Group set a $187.00 price objective on Middleby in a report on Tuesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Middleby in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Middleby currently has an average rating of “Moderate Buy” and a consensus 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.