Envestnet Asset Management Inc. Sells 8,181 Shares of The Middleby Corporation $MIDD

Envestnet Asset Management Inc. decreased its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 6.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 113,776 shares of the industrial products company’s stock after selling 8,181 shares during the period. Envestnet Asset Management Inc. owned 0.22% of Middleby worth $15,124,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of 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 acquiring an additional 130 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in Middleby by 0.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 19,358 shares of the industrial products company’s stock worth $2,788,000 after purchasing an additional 131 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Middleby by 7.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,900 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 138 shares during the period. Hantz Financial Services Inc. grew its position in shares of Middleby by 1.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 10,193 shares of the industrial products company’s stock valued at $1,468,000 after purchasing an additional 161 shares in the last quarter. Finally, First Citizens Bank & Trust Co. increased its holdings in shares of Middleby by 2.9% in the third quarter. First Citizens Bank & Trust Co. now owns 6,416 shares of the industrial products company’s stock worth $853,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Down 0.1%

Shares of NASDAQ:MIDD opened at $163.93 on Tuesday. The Middleby Corporation has a 12-month low of $110.82 and a 12-month high of $182.73. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The stock’s 50-day moving average price is $151.65 and its 200-day moving average price is $137.54. The stock has a market capitalization of $8.26 billion, a P/E ratio of -37.26 and a beta of 1.40.

Analyst Ratings Changes

MIDD has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their target price on Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Middleby in a report on Monday, December 29th. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. KeyCorp reissued an “overweight” rating on shares of Middleby in a research note on Friday, December 5th. Finally, Zacks Research cut shares of Middleby from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Middleby has a consensus rating of “Moderate Buy” and an average target price of $163.83.

Insider Buying and Selling at Middleby

In other news, Director Robert A. Nerbonne bought 780 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were bought at an average cost of $128.52 per share, with a total value of $100,245.60. Following the completion of the purchase, the director directly owned 21,471 shares in the company, valued at $2,759,452.92. This represents a 3.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.18% of the company’s stock.

Middleby 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.