PNC Financial Services Group Inc. Has $3.86 Million Stake in The Middleby Corporation $MIDD

PNC Financial Services Group Inc. lowered its holdings in The Middleby Corporation (NASDAQ:MIDD) by 38.7% in the first quarter, HoldingsChannel.com reports. The firm owned 29,147 shares of the industrial products company’s stock after selling 18,401 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Middleby were worth $3,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Torren Management LLC bought a new position in shares of Middleby during the fourth quarter worth approximately $25,000. Clearstead Advisors LLC boosted its stake in shares of Middleby by 201.8% in the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company’s stock valued at $25,000 after buying an additional 111 shares during the period. Danske Bank A S bought a new stake in shares of Middleby in the third quarter valued at approximately $27,000. Larson Financial Group LLC grew its position in Middleby by 1,292.9% during the fourth quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company’s stock worth $29,000 after buying an additional 181 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Middleby by 135.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 245 shares of the industrial products company’s stock worth $33,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Performance

NASDAQ MIDD opened at $136.00 on Tuesday. The firm’s 50 day simple moving average is $152.91 and its 200 day simple moving average is $150.24. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of -16.04 and a beta of 1.33. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The Middleby Corporation has a 1 year low of $110.82 and a 1 year high of $180.13.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported $2.16 EPS for the quarter, beating 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 business had revenue of $839.91 million during the quarter, compared to the consensus estimate of $777.19 million. During the same period in the previous year, the business earned $2.08 earnings per share. The company’s 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, research analysts expect that The Middleby Corporation will post 9.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Canaccord Genuity Group set a $200.00 price objective on Middleby in a report on Friday, May 8th. Barclays set a $155.00 target price on Middleby and gave the stock an “overweight” rating in a report on Monday, July 20th. KeyCorp set a $152.00 price target on Middleby in a research report on Tuesday, July 14th. Robert W. Baird downgraded Middleby from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. dropped their price target on Middleby from $185.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.