Turtle Creek Asset Management Inc. reduced its position in shares of The Middleby Corporation (NASDAQ:MIDD – Free Report) by 15.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 943,514 shares of the industrial products company’s stock after selling 173,475 shares during the quarter. Middleby accounts for approximately 4.6% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Turtle Creek Asset Management Inc.’s holdings in Middleby were worth $125,091,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Middleby by 90.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 205 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Middleby by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,149 shares of the industrial products company’s stock valued at $23,884,000 after buying an additional 9,936 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Middleby by 344.7% during the 1st quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 1,727 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake 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 during the period. Finally, Cresset Asset Management LLC acquired a new stake in Middleby during the 2nd quarter valued at $202,000. 98.55% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of Middleby from $200.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Oppenheimer started coverage on Middleby in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $205.00 target price on the stock. Canaccord Genuity Group set a $200.00 price target on Middleby in a report on Friday, May 8th. Robert W. Baird downgraded Middleby from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, Barclays set a $155.00 price objective on Middleby and gave the stock an “overweight” rating in a research report on Monday, July 20th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Middleby has a consensus rating of “Moderate Buy” and an average target price of $173.88.
Middleby Stock Down 1.5%
NASDAQ MIDD opened at $133.02 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The company has a market cap of $6.01 billion, a price-to-earnings ratio of -15.69 and a beta of 1.33. The company has a 50 day moving average of $152.57 and a 200-day moving average of $149.93. The Middleby Corporation has a 1-year low of $110.82 and a 1-year high of $180.13.
Middleby (NASDAQ:MIDD – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.22. The business had revenue of $839.91 million for the quarter, compared to the consensus estimate of $777.19 million. Middleby had a positive return on equity of 15.94% and a negative net margin of 11.46%.The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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. On average, equities research analysts expect that The Middleby Corporation will post 9.54 earnings per share for the current fiscal year.
Middleby 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.
Featured Articles
- Five stocks we like better than Middleby
- Why SK hynix Could Be the Best AI Chip Stock to Buy Now
- Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters
- Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead?
- Why Bloom Energy May Be the Most Important AI Infrastructure Stock
Want to see what other hedge funds are holding MIDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Middleby Corporation (NASDAQ:MIDD – Free Report).
Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.
