Heartland Advisors Inc. Sells 21,103 Shares of The Middleby Corporation $MIDD

Heartland Advisors Inc. trimmed its holdings in The Middleby Corporation (NASDAQ:MIDD) by 39.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,599 shares of the industrial products company’s stock after selling 21,103 shares during the period. Heartland Advisors Inc. owned about 0.07% of Middleby worth $4,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. 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 valued at $858,161,000 after purchasing an additional 1,902,957 shares during the period. Invesco Ltd. boosted its stake in Middleby by 1,046.4% in the 3rd quarter. Invesco Ltd. now owns 1,018,536 shares of the industrial products company’s stock worth $135,394,000 after purchasing an additional 929,688 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Middleby by 4,256.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 722,137 shares of the industrial products company’s stock worth $107,361,000 after purchasing an additional 705,560 shares during the period. Cooke & Bieler LP purchased a new stake in Middleby during the 4th quarter valued at approximately $48,113,000. Finally, Marshall Wace LLP raised its position in shares of Middleby by 260.0% during the third quarter. Marshall Wace LLP now owns 419,936 shares of the industrial products company’s stock valued at $55,822,000 after buying an additional 303,293 shares during the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Price Performance

MIDD stock opened at $133.22 on Monday. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $180.13. 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 company has a fifty day simple moving average of $154.85 and a two-hundred day simple moving average of $151.04. The firm has a market capitalization of $6.02 billion, a P/E ratio of -15.71 and a beta of 1.33.

Middleby (NASDAQ:MIDD) last posted its earnings results 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 firm had revenue of $839.91 million for 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 business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 EPS. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. Analysts anticipate that The Middleby Corporation will post 9.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MIDD has been the topic of several research analyst reports. Canaccord Genuity Group set a $200.00 target price on shares of Middleby in a report on Friday, May 8th. Barclays reiterated an “overweight” rating and issued a $190.00 price target (up from $168.00) on shares of Middleby in a report on Friday, May 8th. Robert W. Baird cut shares of Middleby from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a report on Monday. Finally, Oppenheimer initiated coverage on Middleby in a research report on Wednesday, June 17th. They set an “outperform” rating and a $205.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Middleby presently has a consensus rating of “Moderate Buy” and an average target price of $178.25.

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.