Envestnet Asset Management Inc. trimmed its holdings in shares of The Middleby Corporation (NASDAQ:MIDD) by 10.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,546 shares of the industrial products company’s stock after selling 4,345 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of The Middleby worth $4,558,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. NGAM Advisors L.P. boosted its holdings in shares of The Middleby by 0.5% in the 2nd quarter. NGAM Advisors L.P. now owns 14,470 shares of the industrial products company’s stock worth $1,758,000 after purchasing an additional 72 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of The Middleby by 13.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,700 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 200 shares during the last quarter. World Asset Management Inc lifted its stake in shares of The Middleby by 1.1% in the 2nd quarter. World Asset Management Inc now owns 2,591 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 27 shares during the last quarter. Korea Investment CORP lifted its stake in shares of The Middleby by 309.3% in the 2nd quarter. Korea Investment CORP now owns 30,700 shares of the industrial products company’s stock valued at $3,730,000 after acquiring an additional 23,200 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of The Middleby by 10.5% in the 2nd quarter. IFP Advisors Inc now owns 1,031 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.
The Middleby Corporation (MIDD) opened at $125.61 on Monday. The Middleby Corporation has a 52-week low of $107.53 and a 52-week high of $150.87. The stock has a market capitalization of $7,023.22, a P/E ratio of 23.17 and a beta of 1.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.93 and a quick ratio of 1.02.
A number of equities research analysts have recently weighed in on MIDD shares. BMO Capital Markets lowered their target price on The Middleby from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, November 9th. Macquarie raised The Middleby from a “neutral” rating to an “outperform” rating and set a $150.00 target price for the company in a research note on Tuesday, August 15th. Citigroup reissued a “neutral” rating and issued a $130.00 target price on shares of The Middleby in a research note on Thursday, September 7th. Susquehanna Bancshares assumed coverage on The Middleby in a research report on Wednesday, September 27th. They set a “positive” rating and a $141.00 price target for the company. Finally, Deutsche Bank lowered their price target on The Middleby from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $137.22.
In related news, Director Gordon Obrien sold 5,600 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total value of $679,896.00. Following the sale, the director now owns 11,050 shares in the company, valued at approximately $1,341,580.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.
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About The Middleby
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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