Rhumbline Advisers Sells 2,811 Shares of The Middleby Corporation $MIDD

Rhumbline Advisers lessened its holdings in The Middleby Corporation (NASDAQ:MIDD) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,193 shares of the industrial products company’s stock after selling 2,811 shares during the period. Rhumbline Advisers’ holdings in Middleby were worth $20,908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cetera Investment Advisers lifted its stake in Middleby by 100.8% in the first quarter. Cetera Investment Advisers now owns 6,127 shares of the industrial products company’s stock valued at $931,000 after purchasing an additional 3,075 shares during the last quarter. TCTC Holdings LLC boosted its holdings in Middleby by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 91 shares during the period. XTX Topco Ltd grew its position in Middleby by 498.1% during the first quarter. XTX Topco Ltd now owns 10,197 shares of the industrial products company’s stock worth $1,550,000 after buying an additional 8,492 shares in the last quarter. Bayforest Capital Ltd grew its holdings in shares of Middleby by 183.1% during the first quarter. Bayforest Capital Ltd now owns 1,888 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 1,221 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in Middleby by 17.3% in the 1st quarter. Natixis Advisors LLC now owns 104,352 shares of the industrial products company’s stock worth $15,859,000 after buying an additional 15,411 shares in the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Stock Performance

Shares of MIDD stock opened at $117.68 on Friday. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 14.97 and a beta of 1.57. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.56 and a current ratio of 2.57. The company’s 50-day moving average is $127.62 and its 200 day moving average is $137.15. The Middleby Corporation has a one year low of $110.82 and a one year high of $182.73.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.34. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The company had revenue of $982.13 million during the quarter, compared to analyst estimates of $961.21 million. During the same period in the previous year, the business earned $2.33 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS. Q4 2025 guidance at 2.190-2.340 EPS. Sell-side analysts expect that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MIDD shares. Canaccord Genuity Group cut their price objective on shares of Middleby from $175.00 to $171.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Barclays set a $168.00 price objective on Middleby and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Zacks Research upgraded Middleby from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. upgraded shares of Middleby from an “underweight” rating to a “neutral” rating and cut their price target for the company from $140.00 to $125.00 in a report on Friday, November 7th. Finally, Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Middleby has an average rating of “Hold” and a consensus price target of $160.57.

Middleby Company Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.