Trade Report: Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Raises Stake in The Middleby Corp. (MIDD)

Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Raises Stake in The Middleby Corp. (MIDD)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in The Middleby Corp. (NASDAQ:MIDD) by 36.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,645 shares of the company’s stock after buying an additional 7,170 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in The Middleby Corp. were worth $3,294,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MIDD. A.R.T. Advisors LLC acquired a new position in The Middleby Corp. during the first quarter worth approximately $583,000. GW&K Investment Management LLC increased its position in The Middleby Corp. by 9.9% in the second quarter. GW&K Investment Management LLC now owns 275,264 shares of the company’s stock worth $31,724,000 after buying an additional 24,770 shares in the last quarter. Svenska Handelsbanken AB publ acquired a new position in The Middleby Corp. during the second quarter worth approximately $634,000. Creative Planning increased its position in The Middleby Corp. by 36.4% in the second quarter. Creative Planning now owns 5,460 shares of the company’s stock worth $629,000 after buying an additional 1,458 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its position in The Middleby Corp. by 0.7% in the second quarter. Eqis Capital Management Inc. now owns 9,176 shares of the company’s stock worth $1,058,000 after buying an additional 67 shares in the last quarter. 95.31% of the stock is owned by hedge funds and other institutional investors.

Shares of The Middleby Corp. (NASDAQ:MIDD) traded up 2.57% during trading on Friday, hitting $139.21. 304,116 shares of the stock traded hands. The Middleby Corp. has a 52 week low of $79.11 and a 52 week high of $140.98. The firm’s 50-day moving average price is $120.00 and its 200-day moving average price is $121.32. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 31.35 and a beta of 1.44.

MIDD has been the subject of a number of research reports. Zacks Investment Research raised shares of The Middleby Corp. from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Tuesday, August 16th. Deutsche Bank AG initiated coverage on shares of The Middleby Corp. in a report on Tuesday, September 6th. They issued a “hold” rating and a $123.00 price objective for the company. Finally, Wellington Shields raised shares of The Middleby Corp. from a “hold” rating to an “accumulate” rating in a report on Friday, September 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $124.67.

About The Middleby Corp.

The Middleby Corporation (Middleby) is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.

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