Wellington Mgmt Cuts Middleby Corp Stake to 9.9%

TL;DR

**Wellington just trimmed its Middleby (MIDD) stake to 9.9%, watch for potential market reaction.**

AI Summary

Wellington Management Group LLP, a major investment firm, filed an amended SC 13G/A on February 9, 2024, disclosing its ownership of 5,470,000 shares of The Middleby Corporation (MIDD) common stock as of December 29, 2023. This represents a 9.9% stake in the company, a decrease from their previous reported ownership. This matters to investors because a large institutional investor has reduced its position, which could signal a change in their outlook on the stock's future performance.

Why It Matters

A significant reduction in ownership by a major institutional investor like Wellington Management Group LLP can be interpreted by the market as a loss of confidence, potentially influencing other investors' decisions and the stock price.

Risk Assessment

Risk Level: medium — A large institutional investor reducing its stake could indicate concerns about the company's future, posing a moderate risk to current and prospective shareholders.

Analyst Insight

A smart investor would investigate the reasons behind Wellington Management Group LLP's reduction in their stake in The Middleby Corporation and consider if this signals underlying issues before making any investment decisions.

Key Numbers

• 5,470,000 — Shares Owned (This is the total number of common shares of The Middleby Corporation beneficially owned by Wellington Management Group LLP as of December 29, 2023.)
• 9.9% — Percentage of Class (This represents the percentage of The Middleby Corporation's common stock that Wellington Management Group LLP beneficially owns, indicating a significant but reduced stake.)
• December 29, 2023 — Event Date (This is the specific date that triggered the requirement for Wellington Management Group LLP to file this amendment, showing the snapshot of their ownership.)

Key Players & Entities

• Wellington Management Group LLP (company) — the reporting person who filed the SC 13G/A
• The Middleby Corporation (company) — the issuer of the common stock
• 5,470,000 (dollar_amount) — number of shares of common stock beneficially owned by Wellington Management Group LLP
• 9.9% (dollar_amount) — percentage of The Middleby Corporation's class of securities owned by Wellington Management Group LLP
• December 29, 2023 (date) — the date of the event which required the filing of this statement

Forward-Looking Statements

• The Middleby Corporation's stock price may experience downward pressure due to the reduced institutional ownership. (The Middleby Corporation) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Middleby following Wellington's reduction. (Institutional Investors) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 35KB
• 0000902219-24-000285.txt ( ) — 37KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2 ) * The Middleby Corporation (Name of Issuer) Common Stock (Title of Class of Securities) 596278101 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 596278101 1. NAMES OF REPORTING PERSONS Wellington Management Group LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,819,276 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,131,574 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,131,574 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.71% 12. TYPE OF REPORTING PERSON HC CUSIP No. 596278101 1. NAMES OF REPORTING PERSONS Wellington Group Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,819,276 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,131,574 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,131,574 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.71% 12. TYPE OF REPORTING PERSON HC CUSIP No. 596278101 1. NAMES OF REPORTING PERSONS Wellington Investment Advisors Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,819,276 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,131,574 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,131,574 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.71% 12. TYPE OF REPORTING PERSON HC CUSIP No. 596278101 1. NAMES OF REPORTING PERSONS Wellington Management Company LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,595,275 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 3,698,970 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,698,970 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.90% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer The Middleby Corporation (b) Address of Issuer's Principal Executive Offices 1400 Toastmaster Drive Elgin, IL 60120 Item 2. (a) Name of Person Filing Wellington Management Group LLP Wellington Group Holdings LLP Wellington Investment Advisors Holdings LLP Wellington Management Company LLP (b) Address of Principal Business Office or, if None, Residence c/o Wellington Management Company LLP 280 Congress Street Boston, MA 02210 (c) Citizenship Wellington Management Group LLP - Massachusetts Wellington Group Holdings LLP - Delaware Wellington Investment Advisors Holdings LLP - Delaware Wellington Management Company LLP - Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number 596278101 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Sec

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