Boston Partners Cuts Stock Holdings in The Middleby Corporation $MIDD

Boston Partners cut its holdings in shares of The Middleby Corporation (NASDAQ:MIDD) by 1.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 413,268 shares of the industrial products company’s stock after selling 6,487 shares during the quarter. Boston Partners’ holdings in Middleby were worth $59,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MIDD. TCTC Holdings LLC raised its position in shares of Middleby by 116.7% in the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 91 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Middleby during the second quarter worth $30,000. Allworth Financial LP boosted its holdings in shares of Middleby by 168.8% in the second quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 130 shares during the period. AdvisorShares Investments LLC purchased a new position in shares of Middleby in the second quarter valued at $37,000. Finally, Abound Wealth Management raised its stake in shares of Middleby by 157.5% during the 2nd quarter. Abound Wealth Management now owns 309 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 189 shares during the period. Institutional investors own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

MIDD has been the subject of a number of recent analyst reports. Barclays set a $168.00 target price on Middleby and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings lowered shares of Middleby from a “hold (c)” rating to a “sell (d)” rating in a research report on Monday. Wolfe Research set a $163.00 target price on shares of Middleby and gave the stock an “outperform” rating in a report on Thursday, September 4th. Canaccord Genuity Group lowered their target price 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. Finally, JPMorgan Chase & Co. upgraded shares of Middleby from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $125.00 in a research report on Friday, November 7th. 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 company’s stock. According to MarketBeat.com, Middleby has an average rating of “Hold” and an average target price of $160.57.

Middleby Stock Up 0.9%

Shares of NASDAQ:MIDD opened at $124.50 on Thursday. The stock has a market capitalization of $6.27 billion, a P/E ratio of 15.84 and a beta of 1.57. The stock’s 50-day moving average price is $132.43 and its 200-day moving average price is $138.65. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64. The Middleby Corporation has a 12-month low of $114.57 and a 12-month high of $182.73.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.34. The business had revenue of $982.13 million for the quarter, compared to analysts’ expectations of $961.21 million. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm 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 anticipate that The Middleby Corporation will post 9.11 earnings per share for the current year.

About Middleby

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.