Heartland Advisors Inc. Has $9.46 Million Holdings in The Middleby Corporation $MIDD

Heartland Advisors Inc. decreased its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 14.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 71,164 shares of the industrial products company’s stock after selling 12,085 shares during the period. Heartland Advisors Inc. owned 0.14% of Middleby worth $9,460,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MIDD. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Middleby in the second quarter valued at approximately $30,000. Allworth Financial LP raised its holdings in Middleby by 168.8% in the 2nd quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 130 shares during the period. TFC Financial Management Inc. boosted its holdings 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 acquiring an additional 230 shares during the period. AdvisorShares Investments LLC acquired a new stake in shares of Middleby in the second quarter valued at about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Middleby in the third quarter worth about $46,000. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert A. Nerbonne purchased 780 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were acquired at an average cost of $128.52 per share, for a total transaction of $100,245.60. Following 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 position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 6.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Middleby in a report on Monday, December 29th. Wall Street Zen upgraded Middleby from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research downgraded Middleby from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Canaccord Genuity Group raised their target price on Middleby from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, JPMorgan Chase & Co. upped their price target 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. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $163.83.

Middleby Trading Down 0.1%

MIDD stock opened at $163.93 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.69. The Middleby Corporation has a twelve month low of $110.82 and a twelve month high of $182.73. The company has a market cap of $8.26 billion, a P/E ratio of -37.26 and a beta of 1.40. The business has a fifty day moving average of $151.65 and a 200-day moving average of $137.54.

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.