Bares Capital Management Inc. Makes New $7.87 Million Investment in The Middleby Corporation $MIDD

Bares Capital Management Inc. acquired a new stake in The Middleby Corporation (NASDAQ:MIDD) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 54,625 shares of the industrial products company’s stock, valued at approximately $7,866,000. Middleby comprises approximately 0.8% of Bares Capital Management Inc.’s portfolio, making the stock its 12th largest position.

A number of other large investors have also made changes to their positions in MIDD. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Middleby in the 2nd quarter valued at about $30,000. Allworth Financial LP boosted its stake in shares of Middleby by 168.8% during the 2nd quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 130 shares during the last quarter. AdvisorShares Investments LLC purchased a new stake in shares of Middleby during the second quarter worth about $37,000. Abound Wealth Management grew its holdings in shares of Middleby by 157.5% during the second quarter. Abound Wealth Management now owns 309 shares of the industrial products company’s stock worth $44,000 after buying an additional 189 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Middleby in the second quarter valued at approximately $47,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Insider Buying and Selling

In other Middleby news, Director Robert A. Nerbonne purchased 780 shares of Middleby stock in a transaction on Tuesday, December 9th. The shares were purchased at an average cost of $128.52 per share, with a total value of $100,245.60. Following the completion of the transaction, the director directly owned 21,471 shares in the company, valued at approximately $2,759,452.92. This represents a 3.77% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.18% of the company’s stock.

Middleby Price Performance

Shares of Middleby stock opened at $147.76 on Friday. The business’s fifty day moving average price is $126.39 and its 200 day moving average price is $135.65. The Middleby Corporation has a twelve month low of $110.82 and a twelve month high of $182.73. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $7.44 billion, a P/E ratio of -33.58 and a beta of 1.39.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Middleby from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $140.00 to $125.00 in a research report on Friday, November 7th. Wall Street Zen raised Middleby from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wolfe Research set a $163.00 price objective on Middleby and gave the stock an “outperform” rating in a report on Thursday, September 4th. Barclays set a $168.00 target price on Middleby and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Finally, Zacks Research upgraded Middleby from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $161.33.

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.