Heartland Advisors Inc. Purchases New Holdings in The Middleby Corporation $MIDD

Heartland Advisors Inc. acquired a new position in The Middleby Corporation (NASDAQ:MIDD) during the 2nd quarter, HoldingsChannel reports. The fund acquired 32,599 shares of the industrial products company’s stock, valued at approximately $5,607,000.

Several other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Middleby by 14.3% in the first quarter. The Manufacturers Life Insurance Company now owns 67,926 shares of the industrial products company’s stock worth $9,006,000 after acquiring an additional 8,524 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Middleby in the 4th quarter valued at $2,464,000. Sei Investments Co. raised its stake in Middleby by 6.5% in the 1st quarter. Sei Investments Co. now owns 803,383 shares of the industrial products company’s stock valued at $106,514,000 after purchasing an additional 49,228 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Middleby by 272.0% in the 1st quarter. Fifth Third Bancorp now owns 32,441 shares of the industrial products company’s stock valued at $4,301,000 after purchasing an additional 23,721 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Middleby by 237.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 24,980 shares of the industrial products company’s stock worth $3,714,000 after purchasing an additional 17,586 shares during the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Middleby Stock Performance

Middleby stock opened at $115.48 on Friday. The firm has a 50 day simple moving average of $142.46 and a 200-day simple moving average of $146.90. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of -12.47 and a beta of 1.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.99 and a quick ratio of 1.10. The Middleby Corporation has a 1-year low of $110.82 and a 1-year high of $180.13.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.09 by $0.26. Middleby had a negative net margin of 13.22% and a positive return on equity of 17.44%. The firm had revenue of $875.55 million for the quarter, compared to analyst estimates of $836.99 million. During the same quarter in the previous year, the company earned $2.35 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. On average, analysts expect that The Middleby Corporation will post 6.85 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MIDD shares. Jefferies Financial Group reduced their target price on shares of Middleby from $200.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Oppenheimer restated an “outperform” rating and set a $160.00 price target (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 shares of Middleby in a research note on Wednesday, August 12th. Canaccord Genuity Group set a $157.00 price objective on shares of Middleby and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen lowered shares of Middleby from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $160.38.

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.