The Manufacturers Life Insurance Company Boosts Stake in The Middleby Corporation $MIDD

The Manufacturers Life Insurance Company raised its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,926 shares of the industrial products company’s stock after acquiring an additional 8,524 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Middleby were worth $9,006,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MIDD. Price T Rowe Associates Inc. MD boosted its position in Middleby by 49.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,772,249 shares of the industrial products company’s stock valued at $858,161,000 after purchasing an additional 1,902,957 shares in the last quarter. Garden Investment Management L.P. boosted its holdings in shares of Middleby by 3.1% in the 4th 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 buying an additional 102,903 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Middleby by 3.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,153,171 shares of the industrial products company’s stock worth $320,112,000 after buying an additional 75,047 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Middleby by 4.1% during the 4th 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. lifted its position in Middleby by 4.2% during the third quarter. Turtle Creek Asset Management Inc. now owns 1,461,810 shares of the industrial products company’s stock valued at $194,318,000 after acquiring an additional 59,050 shares during the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Middleby Stock Up 1.7%

Middleby stock opened at $135.81 on Tuesday. The business’s 50-day moving average price is $151.80 and its 200 day moving average price is $149.47. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 0.77. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of -16.02 and a beta of 1.33. 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 data on Thursday, May 7th. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.22. The business had revenue of $839.91 million during the quarter, compared to the consensus estimate of $777.19 million. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 earnings per share. 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, sell-side analysts anticipate that The Middleby Corporation will post 9.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MIDD shares. Oppenheimer began coverage on shares of Middleby in a report on Wednesday, June 17th. They issued an “outperform” rating and a $205.00 price target on the stock. Barclays set a $155.00 price target on Middleby and gave the company an “overweight” rating in a research note on Monday, July 20th. KeyCorp set a $152.00 price objective on shares of Middleby in a research report on Tuesday, July 14th. Robert W. Baird downgraded shares of Middleby from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Finally, 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 note on Monday, July 13th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.88.

Middleby Profile

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.