Clarkston Capital Partners LLC Reduces Stock Holdings in The Middleby Corporation $MIDD

Key Points

• Clarkston Capital Partners cut its Middleby stake by 63.3% in the first quarter, selling nearly 499,293 shares and leaving it with 289,516 shares worth about $38.4 million.
• Middleby’s latest earnings beat expectations, posting $2.16 EPS versus the $1.94 consensus and revenue of $839.9 million, up 15% year over year.
• Analyst sentiment remains mixed but constructive: the stock has a consensus rating of Moderate Buy with a $173.88 price target, though several firms recently trimmed targets or downgraded the shares.

Clarkston Capital Partners LLC lessened its stake in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 63.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 289,516 shares of the industrial products company's stock after selling 499,293 shares during the period. Middleby comprises about 2.9% of Clarkston Capital Partners LLC's portfolio, making the stock its 9th largest holding. Clarkston Capital Partners LLC owned 0.62% of Middleby worth $38,384,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MIDD. Torren Management LLC purchased a new stake in shares of Middleby during the fourth quarter valued at $25,000. Clearstead Advisors LLC increased its stake in Middleby by 201.8% in 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 purchased a new position in Middleby in the 3rd quarter worth about $27,000. Larson Financial Group LLC raised its holdings in Middleby by 1,292.9% during 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, Caitong International Asset Management Co. Ltd lifted its stake in Middleby by 135.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 245 shares of the industrial products company's stock valued at $33,000 after buying an additional 141 shares in the last quarter. 98.55% of the stock is owned by institutional investors.

Middleby Price Performance

NASDAQ MIDD opened at $131.14 on Friday. The company has a 50 day simple moving average of $153.27 and a 200-day simple moving average of $150.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.96 and a quick ratio of 1.10. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of -15.46 and a beta of 1.33. The Middleby Corporation has a 52-week low of $110.82 and a 52-week high of $180.13.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.22. The firm had revenue of $839.91 million for the quarter, compared to the consensus estimate of $777.19 million. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. The firm's revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. Equities research analysts predict that The Middleby Corporation will post 9.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on MIDD. Robert W. Baird cut shares of Middleby from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 8th. Oppenheimer initiated coverage on shares of Middleby in a research report on Wednesday, June 17th. They issued an "outperform" rating and a $205.00 price target for the company. Wall Street Zen raised shares of Middleby from a "hold" rating to a "buy" rating in a research note on Monday. Jefferies Financial Group lowered their price objective on shares of Middleby from $200.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of Middleby from $185.00 to $151.00 and set a "neutral" rating on the stock in a research note on Monday, July 13th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.88.

Middleby 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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