The Middleby Corporation $MIDD Shares Sold by S&CO Inc.

S&CO Inc. lessened its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 37.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,825 shares of the industrial products company’s stock after selling 25,000 shares during the quarter. S&CO Inc. owned about 0.08% of Middleby worth $5,559,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MIDD. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Middleby during the 2nd quarter worth $30,000. Allworth Financial LP lifted its position 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 purchasing an additional 130 shares during the period. TFC Financial Management Inc. boosted its holdings in Middleby by 23,000.0% in the 3rd quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 230 shares in the last quarter. AdvisorShares Investments LLC purchased a new stake in Middleby in the 2nd quarter valued at approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Middleby during the 3rd quarter worth approximately $46,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Middleby

In related news, Director Robert A. Nerbonne acquired 780 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was purchased at an average price of $128.52 per share, for a total transaction of $100,245.60. Following the transaction, the director owned 21,471 shares in the company, valued at $2,759,452.92. This trade represents a 3.77% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MIDD has been the subject of several recent analyst reports. Wall Street Zen raised Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barclays set a $168.00 price target on shares of Middleby and gave the company an “overweight” rating in a report on Tuesday, November 11th. KeyCorp reissued an “overweight” rating on shares of Middleby in a report on Friday, December 5th. Zacks Research lowered shares of Middleby from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Canaccord Genuity Group lifted their price target on shares of Middleby from $171.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.83.

Middleby Stock Down 0.0%

Shares of NASDAQ MIDD opened at $161.04 on Tuesday. 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 Middleby Corporation has a 12-month low of $110.82 and a 12-month high of $182.73. The company has a market capitalization of $8.11 billion, a PE ratio of -36.60 and a beta of 1.40. The firm’s 50-day moving average is $147.64 and its two-hundred day moving average is $136.96.

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.