Fifth Third Bancorp Purchases 23,721 Shares of The Middleby Corporation $MIDD

Fifth Third Bancorp grew its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 272.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 32,441 shares of the industrial products company’s stock after purchasing an additional 23,721 shares during the period. Fifth Third Bancorp’s holdings in Middleby were worth $4,301,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Federation des caisses Desjardins du Quebec grew its position in Middleby by 2.2% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,317 shares of the industrial products company’s stock worth $642,000 after purchasing an additional 91 shares during the period. Root Financial Partners LLC grew its position in shares of Middleby by 64.2% during the 1st quarter. Root Financial Partners LLC now owns 261 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 102 shares during the period. Evoke Wealth LLC increased its position in Middleby by 5.8% in the fourth quarter. Evoke Wealth LLC now owns 1,939 shares of the industrial products company’s stock worth $288,000 after buying an additional 107 shares in the last quarter. Cresset Asset Management LLC increased its holdings in Middleby by 7.6% in the 3rd quarter. Cresset Asset Management LLC now owns 1,509 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 107 shares in the last quarter. Finally, Clearstead Advisors LLC increased its stake in shares of Middleby by 201.8% in the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 111 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on MIDD shares. Jefferies Financial Group decreased their target price on Middleby from $200.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. KeyCorp set a $152.00 target price on shares of Middleby in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on Middleby from $185.00 to $151.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Barclays restated an “overweight” rating and set a $190.00 target price (up from $168.00) on shares of Middleby in a research report on Friday, May 8th. Finally, Wall Street Zen cut Middleby from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $178.25.

Middleby Stock Down 3.7%

Middleby stock opened at $133.22 on Friday. The Middleby Corporation has a twelve month low of $110.82 and a twelve month high of $180.13. The business has a fifty day moving average of $154.85 and a two-hundred day moving average of $151.04. The firm has a market cap of $6.02 billion, a P/E ratio of -15.71 and a beta of 1.33. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 0.77.

Middleby (NASDAQ:MIDD) last announced its earnings results on Thursday, May 7th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.22. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. 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 previous year, the company posted $2.08 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. On average, analysts forecast that The Middleby Corporation will post 9.54 earnings per share for the current fiscal year.

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.