Yousif Capital Management LLC Sells 3,444 Shares of The Middleby Corporation $MIDD

Yousif Capital Management LLC cut its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 18.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,360 shares of the industrial products company’s stock after selling 3,444 shares during the period. Yousif Capital Management LLC’s holdings in Middleby were worth $2,042,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MIDD. Clarkston Capital Partners LLC boosted its stake in Middleby by 0.6% during the second quarter. Clarkston Capital Partners LLC now owns 692,764 shares of the industrial products company’s stock worth $99,758,000 after buying an additional 4,204 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Middleby by 4.0% during the 2nd quarter. Sei Investments Co. now owns 680,688 shares of the industrial products company’s stock worth $98,019,000 after acquiring an additional 26,022 shares during the period. Franklin Resources Inc. boosted its position in shares of Middleby by 27.0% during the 2nd quarter. Franklin Resources Inc. now owns 621,794 shares of the industrial products company’s stock valued at $89,538,000 after acquiring an additional 132,191 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Middleby by 21.3% in the second quarter. Ameriprise Financial Inc. now owns 592,168 shares of the industrial products company’s stock valued at $85,272,000 after acquiring an additional 103,930 shares during the period. Finally, Amundi raised its position in Middleby by 34.9% in the first quarter. Amundi now owns 501,718 shares of the industrial products company’s stock worth $71,329,000 after purchasing an additional 129,864 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MIDD shares. KeyCorp reiterated an “overweight” rating on shares of Middleby in a research note on Friday, December 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Middleby in a research report on Monday, December 22nd. JPMorgan Chase & Co. upgraded Middleby from an “underweight” rating to a “neutral” rating and dropped their price objective for the stock from $140.00 to $125.00 in a research note on Friday, November 7th. Barclays set a $168.00 price objective on Middleby and gave the company an “overweight” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.33.

Middleby Price Performance

Shares of MIDD stock opened at $151.11 on Monday. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $182.73. The stock has a market capitalization of $7.61 billion, a PE ratio of -34.34 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 2.07. The stock’s fifty day moving average is $129.34 and its 200-day moving average is $135.56.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.34. Middleby had a positive return on equity of 14.66% and a negative net margin of 5.22%.The business had revenue of $982.13 million during the quarter, compared to analysts’ expectations of $961.21 million. During the same period in the previous year, the business posted $2.33 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. Equities research analysts expect that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert A. Nerbonne purchased 780 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were acquired at an average cost of $128.52 per share, with a total value of $100,245.60. Following the completion of the purchase, the director directly owned 21,471 shares of the company’s stock, valued at $2,759,452.92. This trade represents a 3.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.18% of the company’s stock.

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.