Principal Financial Group Inc. Sells 62,316 Shares of The Middleby Co. (NASDAQ:MIDD)

Principal Financial Group Inc. decreased its stake in shares of The Middleby Co. (NASDAQ:MIDDGet Rating) by 22.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,283 shares of the industrial products company’s stock after selling 62,316 shares during the quarter. Principal Financial Group Inc. owned approximately 0.39% of Middleby worth $26,862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MIDD. Steward Partners Investment Advisory LLC lifted its holdings in Middleby by 55.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 254 shares of the industrial products company’s stock valued at $32,000 after buying an additional 91 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Middleby by 52.4% during the 2nd quarter. Parallel Advisors LLC now owns 291 shares of the industrial products company’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Elequin Capital LP bought a new stake in Middleby during the 1st quarter valued at about $41,000. Ellevest Inc. lifted its holdings in Middleby by 689.1% during the 2nd quarter. Ellevest Inc. now owns 434 shares of the industrial products company’s stock valued at $54,000 after buying an additional 379 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Middleby by 143.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 448 shares of the industrial products company’s stock valued at $56,000 after buying an additional 264 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Up 0.3 %

NASDAQ:MIDD opened at $138.92 on Friday. The company has a market cap of $7.49 billion, a PE ratio of 19.00 and a beta of 1.53. The Middleby Co. has a twelve month low of $120.30 and a twelve month high of $201.34. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.08. The company’s 50 day moving average is $134.83 and its two-hundred day moving average is $138.77.

Insiders Place Their Bets

In other Middleby news, Director John R. Miller III sold 1,161 shares of Middleby stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $139.26, for a total transaction of $161,680.86. Following the completion of the sale, the director now directly owns 11,880 shares in the company, valued at approximately $1,654,408.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Middleby news, Director John R. Miller III sold 1,161 shares of Middleby stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $139.26, for a total transaction of $161,680.86. Following the completion of the sale, the director now directly owns 11,880 shares in the company, valued at approximately $1,654,408.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chapin Sarah Palisi sold 250 shares of Middleby stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $142.86, for a total transaction of $35,715.00. Following the sale, the director now owns 6,985 shares of the company’s stock, valued at $997,877.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,636 shares of company stock valued at $230,696. Insiders own 1.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Middleby from $145.00 to $140.00 in a report on Friday, November 11th. Benchmark cut their target price on shares of Middleby to $170.00 in a research report on Tuesday, November 15th. StockNews.com began coverage on shares of Middleby in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Canaccord Genuity Group began coverage on shares of Middleby in a research report on Thursday. They issued a “buy” rating and a $171.00 price objective on the stock. Finally, Canaccord Genuity Group began coverage on shares of Middleby in a research report on Wednesday. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Middleby currently has a consensus rating of “Moderate Buy” and an average price target of $166.86.

About Middleby

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The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.

See Also

Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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