Bessemer Group Inc. Sells 7,324 Shares of The Middleby Corporation $MIDD

Bessemer Group Inc. lowered its stake in The Middleby Corporation (NASDAQ:MIDD) by 59.4% during the 1st quarter, Holdings Channel reports. The firm owned 4,997 shares of the industrial products company’s stock after selling 7,324 shares during the quarter. Bessemer Group Inc.’s holdings in Middleby were worth $663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Middleby by 4.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 82,610 shares of the industrial products company’s stock valued at $10,971,000 after acquiring an additional 3,149 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Middleby by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 431,007 shares of the industrial products company’s stock valued at $57,143,000 after purchasing an additional 6,378 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Middleby by 15.9% during the first quarter. Illinois Municipal Retirement Fund now owns 4,631 shares of the industrial products company’s stock valued at $614,000 after purchasing an additional 635 shares in the last quarter. Calamos Wealth Management LLC bought a new position in Middleby during the first quarter valued at $283,000. Finally, Calamos Advisors LLC purchased a new position in shares of Middleby in the 1st quarter worth $283,000. Institutional investors own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Middleby in a report on Friday, May 1st. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Jefferies Financial Group dropped their price target on Middleby from $200.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. JPMorgan Chase & Co. reduced their price objective on Middleby from $185.00 to $151.00 and set a “neutral” rating on the stock in a research note on Monday, July 13th. Finally, Barclays set a $155.00 price objective on Middleby and gave the company an “overweight” rating in a research note on Monday. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.88.

Middleby Trading Up 2.1%

NASDAQ:MIDD opened at $133.88 on Friday. The firm has a 50 day moving average of $153.08 and a 200 day moving average of $150.39. 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 Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $180.13. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of -15.79 and a beta of 1.33.

Middleby (NASDAQ:MIDD) last announced 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. The firm had revenue of $839.91 million during the quarter, compared to analyst estimates of $777.19 million. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. Middleby’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm posted $2.08 EPS. 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, sell-side analysts anticipate 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.