Assenagon Asset Management S.A. Makes New $13.33 Million Investment in The Middleby Corporation $MIDD

Key Points

• Assenagon Asset Management acquired 128,680 Middleby shares worth approximately $13.33 million, representing a 0.28% stake. Institutional investors collectively own 98.55% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings, two Holds, and one Sell rating; the stock has an average rating of “Moderate Buy” and a consensus price target of $159.25.
• Middleby exceeded quarterly earnings expectations, reporting $2.35 EPS versus the $2.09 consensus and $875.55 million in revenue, although revenue declined 10.5% year over year.

Assenagon Asset Management S.A. acquired a new position in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 128,680 shares of the industrial products company's stock, valued at approximately $13,329,000. Assenagon Asset Management S.A. owned 0.28% of Middleby as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Middleby in the 2nd quarter worth about $676,035,000. Bank of America Corp DE purchased a new position in shares of Middleby during the second quarter valued at $138,803,000. Sei Investments Co. grew its holdings in Middleby by 6.5% during the 1st quarter. Sei Investments Co. now owns 803,383 shares of the industrial products company's stock worth $106,514,000 after acquiring an additional 49,228 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Middleby by 14.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 563,554 shares of the industrial products company's stock valued at $74,716,000 after purchasing an additional 72,086 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Middleby by 1.5% during the 1st 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 during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group set a $160.00 price target on Middleby and gave the company a "buy" rating in a report on Tuesday, September 1st. Wall Street Zen cut Middleby from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Royal Bank Of Canada set a $147.00 price objective on Middleby in a research report on Tuesday, September 15th. Oppenheimer reaffirmed an "outperform" rating and set a $160.00 price objective (down from $205.00) on shares of Middleby in a research report on Wednesday, August 12th. Finally, Barclays reiterated an "overweight" rating and issued a $145.00 target price (down from $155.00) on shares of Middleby in a research note on Thursday, August 13th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $159.25.

Middleby Price Performance

Shares of NASDAQ:MIDD opened at $107.76 on Tuesday. The Middleby Corporation has a twelve month low of $102.14 and a twelve month high of $180.13. The company's 50 day moving average is $110.28 and its 200 day moving average is $134.42. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.88. The company has a market cap of $4.87 billion, a PE ratio of -11.64 and a beta of 1.32.

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 during the quarter, compared to analysts' expectations of $836.99 million. Middleby had a negative net margin of 13.22% and a positive return on equity of 17.44%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company 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. On average, sell-side analysts forecast that The Middleby Corporation will post 6.82 EPS for the current year.

Middleby Profile

The Middleby Corporation NASDAQ: MIDD designs, manufactures and sells commercial, residential and food processing equipment. Its commercial foodservice products include conveyor, deck, combi and convection ovens; ranges, fryers, steam-cooking equipment, refrigeration systems, ventilation products and kitchen automation technologies. These products are used by restaurants, hotels, institutional kitchens, convenience stores, supermarkets and other foodservice operators.

Middleby also offers equipment and appliances for residential kitchens, including cooking products, refrigeration, ventilation and outdoor cooking systems.

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