BlackRock Inc. Takes $676.03 Million Position in The Middleby Corporation $MIDD

Key Points

• BlackRock acquired 3.93 million Middleby shares worth approximately $676 million, giving it an 8.69% stake. Institutional investors collectively own 98.55% of the company.
• Analyst sentiment is mixed, with six Buy, two Hold and two Sell ratings; the consensus rating is Hold with a target price of $160.38.
• Middleby exceeded quarterly expectations with $2.35 in earnings per share versus the $2.09 estimate and $875.55 million in revenue, although revenue declined 10.5% year over year.

BlackRock Inc. purchased a new stake in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,930,209 shares of the industrial products company's stock, valued at approximately $676,035,000. BlackRock Inc. owned 8.69% of Middleby at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MIDD. Federation des caisses Desjardins du Quebec grew its stake in Middleby by 2.2% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,317 shares of the industrial products company's stock valued at $642,000 after acquiring an additional 91 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of Middleby by 64.2% in the first quarter. Root Financial Partners LLC now owns 261 shares of the industrial products company's stock worth $35,000 after purchasing an additional 102 shares in the last quarter. Evoke Wealth LLC boosted its holdings in shares of Middleby by 5.8% during the fourth quarter. Evoke Wealth LLC now owns 1,939 shares of the industrial products company's stock worth $288,000 after purchasing an additional 107 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of Middleby by 7.6% during the third quarter. Cresset Asset Management LLC now owns 1,509 shares of the industrial products company's stock worth $201,000 after purchasing an additional 107 shares during the period. Finally, Clearstead Advisors LLC grew its position in Middleby by 201.8% during the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 111 shares in the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MIDD has been the subject of a number of research analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $160.00 target price (down from $205.00) on shares of Middleby in a research report on Wednesday, August 12th. Robert W. Baird cut shares of Middleby from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 8th. Canaccord Genuity Group set a $157.00 price target on shares of Middleby and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Zacks Research lowered Middleby from a "hold" rating to a "strong sell" rating in a report on Friday, August 14th. Finally, Seaport Research Partners set a $145.00 price objective on Middleby in a research report on Wednesday, August 12th. Six investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $160.38.

Middleby Stock Performance

MIDD stock opened at $115.48 on Monday. The firm has a 50 day moving average of $142.46 and a two-hundred day moving average of $146.88. The Middleby Corporation has a 12 month low of $110.82 and a 12 month high of $180.13. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of -12.47 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.88.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.26. The business 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%. Middleby's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $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. As a group, equities analysts anticipate that The Middleby Corporation will post 6.85 EPS for the current fiscal year.

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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