Illinois Municipal Retirement Fund Sells 8,115 Shares of The Middleby Corporation $MIDD

Illinois Municipal Retirement Fund reduced its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 66.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,041 shares of the industrial products company’s stock after selling 8,115 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Middleby were worth $537,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Middleby during the 2nd quarter worth about $30,000. Allworth Financial LP grew its position in Middleby by 168.8% during the second quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock worth $30,000 after buying an additional 130 shares in the last quarter. TFC Financial Management Inc. increased its stake 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 bought a new position in Middleby during the second quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Middleby by 280.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 241 shares in the last quarter. 98.55% of the stock is owned by institutional investors.

Middleby Trading Down 1.0%

Shares of Middleby stock opened at $160.78 on Friday. The Middleby Corporation has a 12-month low of $110.82 and a 12-month high of $182.73. The stock has a market capitalization of $8.10 billion, a P/E ratio of -36.54 and a beta of 1.40. The company has a 50-day simple moving average of $153.40 and a 200 day simple moving average of $138.18. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.69.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MIDD. KeyCorp reissued an “overweight” rating on shares of Middleby in a report on Friday, December 5th. JPMorgan Chase & Co. lifted their price target on shares of Middleby from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research downgraded shares of Middleby from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Middleby in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.83.

Insider Activity

In other Middleby news, Director Robert A. Nerbonne bought 780 shares of Middleby stock in a transaction dated Tuesday, December 9th. The shares were acquired at an average cost of $128.52 per share, with a total value of $100,245.60. Following the acquisition, the director directly owned 21,471 shares of the company’s stock, valued at $2,759,452.92. The trade was a 3.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.