Palisade Capital Management LP Buys Shares of 19,171 The Middleby Corporation $MIDD

Palisade Capital Management LP bought a new position in shares of The Middleby Corporation (NASDAQ:MIDD) in the 2nd quarter, HoldingsChannel reports. The fund bought 19,171 shares of the industrial products company’s stock, valued at approximately $3,298,000.

A number of other institutional investors have also made changes to their positions in MIDD. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Middleby during the 2nd quarter worth approximately $27,000. Torren Management LLC acquired a new position in shares of Middleby in the fourth quarter worth $25,000. Clearstead Advisors LLC grew 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 acquiring an additional 111 shares in the last quarter. Elevation Wealth Partners LLC increased its position in shares of Middleby by 553.8% during the second quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 144 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Middleby by 1,292.9% during the fourth quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 181 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Down 1.1%

MIDD stock opened at $113.97 on Wednesday. The stock has a market capitalization of $5.15 billion, a PE ratio of -12.31 and a beta of 1.32. The company has a fifty day moving average of $140.47 and a 200-day moving average of $146.30. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.10 and a current ratio of 1.99. The Middleby Corporation has a one year low of $110.82 and a one year high of $180.13.

Middleby (NASDAQ:MIDD) last issued its earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.26. Middleby had a negative net margin of 13.22% and a positive return on equity of 17.44%. The company had revenue of $875.55 million for the quarter, compared to analyst estimates of $836.99 million. During the same period in the prior year, the business posted $2.35 earnings per share. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. As a group, analysts expect that The Middleby Corporation will post 6.85 EPS for the current year.

Wall Street Analyst Weigh In

MIDD has been the topic of several analyst reports. KeyCorp set a $152.00 target price on shares of Middleby in a report on Tuesday, July 14th. Canaccord Genuity Group set a $157.00 price objective on shares of Middleby and gave the company a “buy” rating in a research report on Wednesday, August 12th. Wall Street Zen lowered shares of Middleby from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Jefferies Financial Group decreased their price objective on shares of Middleby from $200.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $160.00 target price (down from $205.00) on shares of Middleby in a research note on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $160.38.

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.