Bank of America Corp DE Invests $138.80 Million in The Middleby Corporation $MIDD

Key Points

• Bank of America acquired 806,947 Middleby shares worth approximately $138.8 million in the second quarter, giving it a 1.78% stake. Institutional investors collectively own 98.55% of the company.
• Middleby exceeded quarterly expectations, reporting $2.35 in EPS versus the $2.09 consensus and $875.55 million in revenue, although revenue declined 10.5% year over year.
• Analyst sentiment is mixed: Middleby has a consensus “Hold” rating and a $159.50 price target, while several firms recently reduced targets or downgraded the stock.

Bank of America Corp DE acquired a new position in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 806,947 shares of the industrial products company's stock, valued at approximately $138,803,000. Bank of America Corp DE owned about 1.78% of Middleby at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Middleby in the 2nd quarter valued at about $676,035,000. Bank of New York Mellon Corp purchased a new position in Middleby in the second quarter worth $69,002,000. Cooke & Bieler LP acquired a new position in shares of Middleby during the fourth quarter worth $48,113,000. Brandywine Global Investment Management LLC lifted its holdings in shares of Middleby by 804.5% during the 4th quarter. Brandywine Global Investment Management LLC now owns 337,939 shares of the industrial products company's stock valued at $50,241,000 after purchasing an additional 300,577 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Middleby during the 4th quarter valued at $43,240,000. Institutional investors own 98.55% of the company's stock.

Middleby Price Performance

Shares of MIDD opened at $111.34 on Friday. The business's 50-day moving average is $122.09 and its two-hundred day moving average is $140.13. The company has a market capitalization of $5.03 billion, a P/E ratio of -12.02 and a beta of 1.31. The Middleby Corporation has a fifty-two week low of $104.24 and a fifty-two week high of $180.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.10 and a current ratio of 1.99.

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

Analyst Upgrades and Downgrades

MIDD has been the topic of several recent analyst reports. Wall Street Zen lowered Middleby from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. KeyCorp set a $152.00 price target on Middleby in a report on Tuesday, July 14th. Oppenheimer restated an "outperform" rating and set a $160.00 price target (down from $205.00) on shares of Middleby in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of Middleby from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 18th. Finally, Jefferies Financial Group decreased their price objective 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. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $159.50.

About Middleby

Middleby Corporation is a global manufacturer of commercial foodservice, residential kitchen, and food processing equipment. Its products are used by restaurants, hotels, institutional kitchens, food retailers, and food manufacturers around the world.

The company's commercial foodservice portfolio includes cooking, baking, frying, refrigeration, ventilation, beverage, and food preparation equipment. Its residential brands offer cooking appliances, refrigeration, outdoor kitchen products, and related specialty equipment.

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