Ancora Advisors LLC Boosts Stake in The Middleby Corporation $MIDD

Key Points

• Ancora Advisors increased its Middleby stake by 23.1% in the second quarter, acquiring 29,199 additional shares for a total holding of 155,785 shares worth approximately $26.8 million. Institutional investors collectively own 98.55% of the company.
• Analyst sentiment is mixed, with six Buy, two Hold, and two Sell ratings. The average price target fell to $160.38, while several firms recently lowered their targets.
• Middleby shares opened at $110.84, near their 52-week low of $110.33. Despite revenue declining 10.5% year over year, quarterly EPS of $2.35 exceeded the consensus estimate of $2.09, and revenue also beat expectations.

Ancora Advisors LLC lifted its position in The Middleby Corporation (NASDAQ:MIDD - Free Report) by 23.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 155,785 shares of the industrial products company's stock after acquiring an additional 29,199 shares during the period. Ancora Advisors LLC owned 0.34% of Middleby worth $26,797,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC raised its holdings in 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. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Middleby during the second quarter valued at $27,000. Danske Bank A S bought a new stake in shares of Middleby during the 3rd quarter valued at $27,000. Larson Financial Group LLC grew its position in shares of Middleby by 1,292.9% in the 4th quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company's stock worth $29,000 after buying an additional 181 shares during the period. Finally, Elevation Wealth Partners LLC grew its position in shares of Middleby by 553.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company's stock worth $29,000 after buying an additional 144 shares during the period. 98.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group lowered their price target 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. Weiss Ratings cut shares of Middleby from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 18th. Barclays reaffirmed an "overweight" rating and set a $145.00 target price (down from $155.00) on shares of Middleby in a research note on Thursday, August 13th. Seaport Research Partners set a $145.00 target price on shares of Middleby in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. cut their price target on Middleby from $151.00 to $141.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $160.38.

Middleby Stock Down 1.7%

NASDAQ:MIDD opened at $110.84 on Tuesday. 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 firm has a market cap of $5.01 billion, a P/E ratio of -11.97 and a beta of 1.32. The Middleby Corporation has a fifty-two week low of $110.33 and a fifty-two week high of $180.13. The firm has a 50-day simple moving average of $136.00 and a two-hundred day simple moving average of $144.97.

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

Middleby Company 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.

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