Wells Fargo & Company MN Reduces Position in The Middleby Corporation (MIDD)

Wells Fargo & Company MN lowered its position in The Middleby Corporation (NASDAQ:MIDD) by 10.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 353,303 shares of the industrial products company’s stock after selling 39,960 shares during the period. Wells Fargo & Company MN owned 0.61% of The Middleby Corporation worth $42,929,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its holdings in The Middleby Corporation by 0.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,029 shares of the industrial products company’s stock worth $140,000 after buying an additional 9 shares during the last quarter. World Asset Management Inc increased its holdings in The Middleby Corporation by 1.1% in the second quarter. World Asset Management Inc now owns 2,591 shares of the industrial products company’s stock worth $315,000 after buying an additional 27 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its holdings in The Middleby Corporation by 0.7% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 5,396 shares of the industrial products company’s stock worth $656,000 after buying an additional 35 shares during the last quarter. LS Investment Advisors LLC increased its holdings in The Middleby Corporation by 4.7% in the second quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock worth $130,000 after buying an additional 48 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in The Middleby Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 780 shares of the industrial products company’s stock worth $106,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

The Middleby Corporation (NASDAQ:MIDD) opened at 121.38 on Tuesday. The firm has a 50-day moving average price of $121.86 and a 200-day moving average price of $129.44. The Middleby Corporation has a one year low of $108.45 and a one year high of $150.87. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 22.73 and a beta of 1.81.

The Middleby Corporation (NASDAQ:MIDD) last issued its earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.01. The firm had revenue of $579.34 million for the quarter, compared to analyst estimates of $587.49 million. The Middleby Corporation had a return on equity of 23.05% and a net margin of 13.38%. Analysts expect that The Middleby Corporation will post $5.61 EPS for the current year.

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In other The Middleby Corporation news, Director Gordon Obrien sold 5,600 shares of The Middleby Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total transaction of $679,896.00. Following the completion of the sale, the director now owns 11,050 shares of the company’s stock, valued at $1,341,580.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John R. Miller III sold 8,500 shares of The Middleby Corporation stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $118.50, for a total value of $1,007,250.00. Following the sale, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $1,896,000. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

MIDD has been the topic of several analyst reports. BMO Capital Markets reiterated a “buy” rating and set a $150.00 price target on shares of The Middleby Corporation in a report on Friday, August 11th. Zacks Investment Research raised The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research report on Tuesday, July 18th. Wellington Shields raised The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. Seaport Global Securities initiated coverage on The Middleby Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $128.00 price target for the company. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $130.00 price target on shares of The Middleby Corporation in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $142.71.

The Middleby Corporation Profile

The Middleby Corporation 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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Institutional Ownership by Quarter for The Middleby Corporation (NASDAQ:MIDD)

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