Bank of New York Mellon Corp Takes Position in The Middleby Corporation $MIDD

Key Points

• Bank of New York Mellon acquired 401,153 Middleby shares worth approximately $69 million, representing 0.89% of the company. Institutional investors collectively own 98.55% of Middleby’s stock.
• Middleby exceeded quarterly expectations with adjusted EPS of $2.35 versus the $2.09 consensus and revenue of $875.55 million, although revenue declined 10.5% year over year.
• Shares opened at $113.97, near the 52-week low, while analysts’ average rating was “Hold” with an average price target of $160.38; several firms recently lowered their targets.

Bank of New York Mellon Corp purchased a new position in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 401,153 shares of the industrial products company's stock, valued at approximately $69,002,000. Bank of New York Mellon Corp owned 0.89% of Middleby as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Torren Management LLC purchased a new position in Middleby in the fourth quarter valued at about $25,000. Clearstead Advisors LLC raised its stake in shares of Middleby by 201.8% during the 4th 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. Danske Bank A S acquired a new stake in shares of Middleby during the 3rd quarter valued at about $27,000. Larson Financial Group LLC lifted its holdings in shares of Middleby by 1,292.9% during the 4th quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company's stock valued at $29,000 after buying an additional 181 shares during the last quarter. Finally, Elevation Wealth Partners LLC grew its stake 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 valued at $29,000 after buying an additional 144 shares in the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Stock Down 1.1%

MIDD stock opened at $113.97 on Wednesday. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of -12.31 and a beta of 1.32. The company has a 50-day moving average of $140.47 and a two-hundred day moving average of $146.30. The Middleby Corporation has a 52-week low of $110.82 and a 52-week high of $180.13. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.99 and a quick ratio of 1.10.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MIDD shares. Oppenheimer reaffirmed an "outperform" rating and issued a $160.00 price objective (down from $205.00) on shares of Middleby in a research note on Wednesday, August 12th. Barclays reissued an "overweight" rating and set a $145.00 target price (down from $155.00) on shares of Middleby in a research report on Thursday, August 13th. Wall Street Zen lowered Middleby from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Canaccord Genuity Group set a $157.00 price target on Middleby and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, Seaport Research Partners set a $145.00 price target on Middleby 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $160.38.

About Middleby

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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