Norges Bank Invests $43.24 Million in The Middleby Corporation $MIDD

Norges Bank acquired a new position in The Middleby Corporation (NASDAQ:MIDD) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 290,843 shares of the industrial products company’s stock, valued at approximately $43,240,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Capital Management LLC purchased a new stake in shares of Middleby in the third quarter worth $55,260,000. Broyhill Asset Management LLC purchased a new stake in shares of Middleby in the third quarter worth $2,455,000. M&T Bank Corp purchased a new stake in shares of Middleby in the fourth quarter worth $15,085,000. Tudor Investment Corp ET AL increased its stake in shares of Middleby by 45.5% in the third quarter. Tudor Investment Corp ET AL now owns 75,950 shares of the industrial products company’s stock worth $10,096,000 after purchasing an additional 23,737 shares in the last quarter. Finally, Eschler Asset Management LLP bought a new position in shares of Middleby during the third quarter worth $931,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Price Performance

MIDD stock opened at $157.54 on Tuesday. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $169.44. 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 company has a fifty day simple moving average of $145.02 and a two-hundred day simple moving average of $146.06. The firm has a market capitalization of $7.12 billion, a P/E ratio of -18.58 and a beta of 1.36.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data 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 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 analyst estimates of $777.19 million. During the same quarter last year, the business earned $2.08 earnings per share. Middleby’s quarterly 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. Analysts anticipate that The Middleby Corporation will post 9.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MIDD shares. Robert W. Baird set a $205.00 target price on shares of Middleby in a research report on Friday, May 8th. Canaccord Genuity Group set a $200.00 target price on shares of Middleby in a research report on Friday, May 8th. Wall Street Zen lowered shares of Middleby from a “buy” rating to a “hold” rating in a research report on Saturday. KeyCorp upped their target price on shares of Middleby from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Finally, Jefferies Financial Group restated a “buy” rating and set a $195.00 target price on shares of Middleby in a research report on Tuesday, March 31st. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.71.

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.