Renaissance Technologies LLC lifted its holdings in The Middleby Corporation (NASDAQ:MIDD – Free Report) by 1,572.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 205,270 shares of the industrial products company’s stock after purchasing an additional 193,000 shares during the period. Renaissance Technologies LLC’s holdings in Middleby were worth $27,215,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Torren Management LLC acquired a new position in shares of Middleby during the fourth quarter worth approximately $25,000. Clearstead Advisors LLC increased its position in Middleby by 201.8% during the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 111 shares during the period. Danske Bank A S acquired a new position in Middleby during the 3rd quarter valued at $27,000. Larson Financial Group LLC boosted its holdings in Middleby by 1,292.9% in the 4th quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 181 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in Middleby by 135.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 245 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Middleby from $200.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Barclays set a $155.00 target price on Middleby and gave the stock an “overweight” rating in a research report on Monday, July 20th. Robert W. Baird cut Middleby from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. KeyCorp set a $152.00 price objective on Middleby in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Middleby from $185.00 to $151.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.88.
Middleby Stock Performance
NASDAQ MIDD opened at $133.02 on Thursday. The Middleby Corporation has a twelve month low of $110.82 and a twelve month high of $180.13. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 0.77. The stock has a market cap of $6.01 billion, a P/E ratio of -15.69 and a beta of 1.33. The company’s 50-day simple moving average is $152.57 and its 200 day simple moving average is $149.93.
Middleby (NASDAQ:MIDD – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.22. The firm had revenue of $839.91 million during the quarter, compared to analysts’ expectations of $777.19 million. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 earnings per share. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. As a group, research analysts forecast that The Middleby Corporation will post 9.54 earnings per share for the current fiscal year.
About Middleby
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.
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