Thrivent Financial for Lutherans Buys 4,793 Shares of The Middleby Corporation $MIDD

Thrivent Financial for Lutherans grew its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 29.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,203 shares of the industrial products company’s stock after purchasing an additional 4,793 shares during the period. Thrivent Financial for Lutherans’ holdings in Middleby were worth $2,819,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Middleby during the second quarter worth about $30,000. Allworth Financial LP boosted 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 worth $30,000 after purchasing an additional 130 shares during the last quarter. TFC Financial Management Inc. grew its position in Middleby by 23,000.0% during the third quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock valued at $31,000 after buying an additional 230 shares during the period. AdvisorShares Investments LLC purchased a new position in Middleby in the second quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Middleby by 280.2% in the second quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 241 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on MIDD shares. KeyCorp reaffirmed an “overweight” rating on shares of Middleby in a report on Friday, December 5th. Canaccord Genuity Group upped their price target on shares of Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, December 5th. JPMorgan Chase & Co. upped their price objective on shares of Middleby from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Middleby in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Middleby from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Five equities 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 stock. According to MarketBeat.com, Middleby presently has an average rating of “Moderate Buy” and an average price target of $163.83.

Middleby Stock Performance

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

Insiders Place Their Bets

In other news, Director Robert A. Nerbonne purchased 780 shares of Middleby stock in a transaction that occurred on Tuesday, December 9th. The stock was bought at an average price of $128.52 per share, with a total value 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. The trade was a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.18% of the company’s stock.

Middleby Company Profile

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.