SummitTX Capital L.P. Invests $1.77 Million in The Middleby Corporation $MIDD

SummitTX Capital L.P. purchased a new stake in The Middleby Corporation (NASDAQ:MIDD) in the 1st quarter, Holdings Channel reports. The firm purchased 13,389 shares of the industrial products company’s stock, valued at approximately $1,775,000.

A number of other large investors have also made changes to their positions in MIDD. Price T Rowe Associates Inc. MD raised its stake in Middleby by 49.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,772,249 shares of the industrial products company’s stock worth $858,161,000 after buying an additional 1,902,957 shares during the period. Garden Investment Management L.P. grew its stake in Middleby by 3.1% in the fourth quarter. Garden Investment Management L.P. now owns 3,379,737 shares of the industrial products company’s stock valued at $502,466,000 after acquiring an additional 102,903 shares during the period. JPMorgan Chase & Co. grew its stake in Middleby by 3.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,153,171 shares of the industrial products company’s stock valued at $320,112,000 after acquiring an additional 75,047 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Middleby by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,486,120 shares of the industrial products company’s stock worth $220,950,000 after acquiring an additional 58,696 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. increased its holdings in shares of Middleby by 4.2% in the third quarter. Turtle Creek Asset Management Inc. now owns 1,461,810 shares of the industrial products company’s stock worth $194,318,000 after acquiring an additional 59,050 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Trading Down 1.5%

NASDAQ MIDD opened at $133.02 on Thursday. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of -15.69 and a beta of 1.33. The stock’s 50 day moving average price is $152.57 and its two-hundred day moving average price is $149.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.96. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $180.13.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.22. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. The company had revenue of $839.91 million during the quarter, compared to analysts’ expectations of $777.19 million. During the same period last year, the business earned $2.08 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. As a group, analysts anticipate that The Middleby Corporation will post 9.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MIDD shares. Oppenheimer began coverage on Middleby in a report on Wednesday, June 17th. They set an “outperform” rating and a $205.00 price objective on the stock. KeyCorp set a $152.00 price target on shares of Middleby in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lowered their price objective on shares of Middleby from $185.00 to $151.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Canaccord Genuity Group set a $200.00 price objective on shares of Middleby in a report on Friday, May 8th. Finally, Barclays set a $155.00 price objective on shares of Middleby and gave the company an “overweight” rating in a research report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Middleby presently has a consensus rating of “Moderate Buy” and an average target price of $173.88.

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.