American Century Companies Inc. Sells 511,092 Shares of The Middleby Corporation $MIDD

American Century Companies Inc. cut its holdings in shares of The Middleby Corporation (NASDAQ:MIDD) by 71.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,922 shares of the industrial products company’s stock after selling 511,092 shares during the period. American Century Companies Inc.’s holdings in Middleby were worth $29,941,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in shares of Middleby by 27.0% during the second quarter. Franklin Resources Inc. now owns 621,794 shares of the industrial products company’s stock valued at $89,538,000 after acquiring an additional 132,191 shares during the last quarter. Legal & General Group Plc increased its holdings in Middleby by 2.6% in the second quarter. Legal & General Group Plc now owns 90,425 shares of the industrial products company’s stock valued at $13,021,000 after purchasing an additional 2,260 shares during the period. Brandywine Global Investment Management LLC increased its holdings in Middleby by 7.8% in the second quarter. Brandywine Global Investment Management LLC now owns 34,843 shares of the industrial products company’s stock valued at $5,017,000 after purchasing an additional 2,531 shares during the period. Neo Ivy Capital Management bought a new position in Middleby during the 2nd quarter worth $1,113,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Middleby by 6.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,741 shares of the industrial products company’s stock worth $1,979,000 after buying an additional 882 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on MIDD. Barclays set a $168.00 price target on Middleby and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Zacks Research upgraded Middleby from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Middleby in a research report on Monday, November 24th. JPMorgan Chase & Co. upgraded shares of Middleby from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $140.00 to $125.00 in a report on Friday, November 7th. Finally, Canaccord Genuity Group reduced their price objective on shares of Middleby from $175.00 to $171.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $160.57.

Middleby Stock Performance

Shares of MIDD stock opened at $118.21 on Monday. The firm has a 50 day moving average of $127.29 and a 200-day moving average of $136.78. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 15.04 and a beta of 1.57. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $182.73.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.34. The company had revenue of $982.13 million for the quarter, compared to the consensus estimate of $961.21 million. Middleby had a net margin of 11.06% and a return on equity of 14.14%. Middleby’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 EPS. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS. Q4 2025 guidance at 2.190-2.340 EPS. On average, equities analysts forecast that The Middleby Corporation will post 9.11 earnings per share for the current year.

Middleby Company Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.