Wipfli Financial Advisors LLC Buys New Holdings in The Middleby Co. (NASDAQ:MIDD)

Wipfli Financial Advisors LLC acquired a new stake in The Middleby Co. (NASDAQ:MIDDGet Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 374 shares of the industrial products company’s stock, valued at approximately $48,000.

A number of other hedge funds also recently made changes to their positions in the business. Cardinal Capital Management raised its stake in Middleby by 2.5% in the 3rd quarter. Cardinal Capital Management now owns 5,168 shares of the industrial products company’s stock valued at $662,000 after acquiring an additional 127 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Middleby during the 3rd quarter worth about $1,833,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Middleby during the 3rd quarter worth about $1,446,000. National Bank of Canada FI grew its stake in Middleby by 8.6% in the 3rd quarter. National Bank of Canada FI now owns 237,883 shares of the industrial products company’s stock valued at $30,482,000 after buying an additional 18,793 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. raised its holdings in Middleby by 4.5% in the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 48,108 shares of the industrial products company’s stock valued at $6,166,000 after acquiring an additional 2,060 shares during the period. 98.48% of the stock is owned by institutional investors and hedge funds.

Middleby Stock Performance

Shares of Middleby stock opened at $151.00 on Monday. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.08. The company has a market cap of $8.14 billion, a PE ratio of 20.66 and a beta of 1.50. The company has a 50 day moving average of $138.31 and a 200-day moving average of $138.34. The Middleby Co. has a 1-year low of $120.30 and a 1-year high of $201.34.

Middleby (NASDAQ:MIDDGet Rating) last released its earnings results on Wednesday, November 9th. The industrial products company reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). Middleby had a return on equity of 19.17% and a net margin of 10.50%. The business had revenue of $992.87 million for the quarter, compared to the consensus estimate of $1.02 billion. As a group, equities research analysts forecast that The Middleby Co. will post 9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MIDD has been the topic of several research reports. StockNews.com started coverage on Middleby in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Canaccord Genuity Group started coverage on Middleby in a report on Thursday, November 17th. They set a “buy” rating and a $171.00 target price for the company. Robert W. Baird decreased their price target on shares of Middleby from $145.00 to $140.00 in a research note on Friday, November 11th. Benchmark dropped their price objective on shares of Middleby to $170.00 in a research note on Tuesday, November 15th. Finally, Canaccord Genuity Group started coverage on shares of Middleby in a research report on Wednesday, November 16th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Middleby has a consensus rating of “Moderate Buy” and a consensus price target of $161.14.

Insider Activity at Middleby

In other news, Director John R. Miller III sold 1,161 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $139.26, for a total value of $161,680.86. Following the completion of the transaction, the director now owns 11,880 shares of the company’s stock, valued at $1,654,408.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Chapin Sarah Palisi sold 225 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $144.83, for a total transaction of $32,586.75. Following the completion of the transaction, the director now directly owns 6,760 shares in the company, valued at $979,050.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Miller III sold 1,161 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $139.26, for a total value of $161,680.86. Following the sale, the director now directly owns 11,880 shares in the company, valued at approximately $1,654,408.80. The disclosure for this sale can be found here. Insiders have sold 1,636 shares of company stock valued at $229,983 over the last ninety days. 1.24% of the stock is owned by corporate insiders.

Middleby Company Profile

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The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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