OMERS ADMINISTRATION Corp purchased a new position in shares of The Middleby Corporation (NASDAQ:MIDD – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,000 shares of the industrial products company’s stock, valued at approximately $1,376,000.
Several other hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new position in Middleby during the second quarter worth $676,035,000. Price T Rowe Associates Inc. MD boosted its holdings in Middleby by 49.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,772,249 shares of the industrial products company’s stock valued at $858,161,000 after purchasing an additional 1,902,957 shares during the period. Invesco Ltd. grew its position in Middleby by 1,046.4% in the 3rd quarter. Invesco Ltd. now owns 1,018,536 shares of the industrial products company’s stock worth $135,394,000 after purchasing an additional 929,688 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Middleby by 4,256.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 722,137 shares of the industrial products company’s stock worth $107,361,000 after purchasing an additional 705,560 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Middleby during the 2nd quarter worth about $69,002,000. 98.55% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
MIDD has been the subject of several research reports. Weiss Ratings cut shares of Middleby from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 18th. Zacks Research cut Middleby from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Oppenheimer reiterated an “outperform” rating and issued a $160.00 price objective (down from $205.00) on shares of Middleby in a research report on Wednesday, August 12th. Seaport Research Partners set a $145.00 price objective on Middleby in a research report on Wednesday, August 12th. Finally, Canaccord Genuity Group set a $157.00 target price on Middleby and gave the company a “buy” rating in a research note on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.38.
Middleby Stock Performance
NASDAQ:MIDD opened at $115.44 on Thursday. The Middleby Corporation has a 12-month low of $110.82 and a 12-month high of $180.13. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $5.22 billion, a PE ratio of -12.47 and a beta of 1.32. The firm has a 50-day moving average price of $139.48 and a 200 day moving average price of $146.01.
Middleby (NASDAQ:MIDD – Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.26. Middleby had a positive return on equity of 17.44% and a negative net margin of 13.22%.The company had revenue of $875.55 million for the quarter, compared to the consensus estimate of $836.99 million. During the same period in the previous year, the business earned $2.35 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. Research analysts anticipate that The Middleby Corporation will post 6.85 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.
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