The Middleby Corporation $MIDD Holdings Decreased by Amundi

Amundi lessened its stake in The Middleby Corporation (NASDAQ:MIDD) by 74.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 126,274 shares of the industrial products company’s stock after selling 375,444 shares during the quarter. Amundi’s holdings in Middleby were worth $18,835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Middleby by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,029,484 shares of the industrial products company’s stock worth $460,422,000 after acquiring an additional 1,133,931 shares during the period. Earnest Partners LLC raised its holdings in Middleby by 0.6% during the first quarter. Earnest Partners LLC now owns 1,319,757 shares of the industrial products company’s stock worth $200,577,000 after purchasing an additional 7,791 shares in the last quarter. Clarkston Capital Partners LLC lifted its position in Middleby by 0.6% in the second quarter. Clarkston Capital Partners LLC now owns 692,764 shares of the industrial products company’s stock worth $99,758,000 after purchasing an additional 4,204 shares during the period. Franklin Resources Inc. lifted its position in Middleby by 27.0% in the second quarter. Franklin Resources Inc. now owns 621,794 shares of the industrial products company’s stock worth $89,538,000 after purchasing an additional 132,191 shares during the period. Finally, Epoch Investment Partners Inc. boosted its stake in Middleby by 32.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 578,496 shares of the industrial products company’s stock valued at $87,920,000 after purchasing an additional 141,769 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Canaccord Genuity Group boosted their price objective on Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Zacks Research raised Middleby from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. KeyCorp reiterated an “overweight” rating on shares of Middleby in a research report on Friday, December 5th. Wolfe Research set a $163.00 price objective on shares of Middleby and gave the company an “outperform” rating in a research report on Thursday, September 4th. Finally, Barclays set a $168.00 price objective on shares of Middleby and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Five 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $161.14.

Middleby Trading Up 9.3%

Shares of MIDD opened at $140.96 on Thursday. The business’s 50-day moving average price is $126.04 and its 200 day moving average price is $135.56. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $7.10 billion, a P/E ratio of -32.04 and a beta of 1.39. The Middleby Corporation has a 1-year low of $110.82 and a 1-year high of $182.73.

Middleby (NASDAQ:MIDD) last announced its earnings results on Thursday, November 6th. The industrial products company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.03 by $0.34. The company had revenue of $982.13 million during the quarter, compared to analysts’ expectations of $961.21 million. Middleby had a negative net margin of 5.22% and a positive return on equity of 14.66%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company posted $2.33 earnings per share. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. Analysts expect that The Middleby Corporation will post 9.11 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert A. Nerbonne acquired 780 shares of the stock in a transaction on Tuesday, December 9th. The shares were purchased at an average cost of $128.52 per share, for a total transaction of $100,245.60. Following the transaction, the director owned 21,471 shares in the company, valued at approximately $2,759,452.92. This trade represents a 3.77% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.18% of the company’s stock.

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.