The Middleby Corporation $MIDD Stock Holdings Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in The Middleby Corporation (NASDAQ:MIDD) by 67.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,030 shares of the industrial products company’s stock after selling 16,950 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Middleby were worth $1,065,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. grew its position in Middleby by 3.4% in the 1st quarter. GHP Investment Advisors Inc. now owns 21,583 shares of the industrial products company’s stock valued at $2,861,000 after buying an additional 719 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Middleby during the 1st quarter worth about $1,777,000. Blue Trust Inc. lifted its stake in shares of Middleby by 16.7% in the 1st quarter. Blue Trust Inc. now owns 5,029 shares of the industrial products company’s stock worth $667,000 after acquiring an additional 719 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Middleby by 2.6% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,841 shares of the industrial products company’s stock valued at $642,000 after acquiring an additional 124 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Middleby in the fourth quarter valued at approximately $2,464,000. 98.55% of the stock is currently owned by institutional investors.

Middleby Stock Performance

MIDD opened at $139.26 on Wednesday. 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 $6.30 billion, a PE ratio of -16.42 and a beta of 1.33. The business has a fifty day simple moving average of $156.70 and a 200-day simple moving average of $151.92. The Middleby Corporation has a fifty-two week low of $110.82 and a fifty-two week high of $180.13.

Middleby (NASDAQ:MIDD) last announced its earnings results 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 positive return on equity of 15.94% and a negative net margin of 11.46%.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 prior year, the business posted $2.08 earnings per share. Middleby’s revenue was up 15.0% compared to the same quarter last year. 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, equities analysts predict that The Middleby Corporation will post 9.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on MIDD. JPMorgan Chase & Co. boosted their target price on Middleby from $150.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Middleby in a research report on Friday, May 1st. Canaccord Genuity Group set a $200.00 price objective on Middleby in a research note on Friday, May 8th. Oppenheimer started coverage on Middleby in a report on Wednesday, June 17th. They issued an “outperform” rating and a $205.00 price objective for the company. Finally, Barclays reaffirmed an “overweight” rating and set a $190.00 target price (up from $168.00) on shares of Middleby in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Middleby currently has an average rating of “Moderate Buy” and a consensus price target of $191.62.

Middleby Company 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.