Freestone Grove Partners LP Makes New Investment in The Middleby Corporation $MIDD

Key Points

• Freestone Grove Partners LP initiated a 37,809-share position in Middleby worth approximately $6.5 million, while institutional investors overall own 98.55% of the company.
• Middleby exceeded quarterly expectations with $2.35 in EPS and $875.55 million in revenue, but revenue declined 10.5% year over year and the company reported a negative net margin.
• The stock opened at $112.75, well below its $160.38 analyst consensus price target. Despite six Buy ratings, recent target cuts and a consensus “Hold” rating reflect mixed sentiment.

Freestone Grove Partners LP bought a new stake in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 37,809 shares of the industrial products company's stock, valued at approximately $6,504,000. Freestone Grove Partners LP owned approximately 0.08% of Middleby at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MIDD. Torren Management LLC bought a new stake in Middleby during the fourth quarter worth approximately $25,000. Clearstead Advisors LLC lifted its stake in shares of Middleby by 201.8% in the 4th 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 during the last quarter. Danske Bank A S bought a new stake in shares of Middleby in the 3rd quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Middleby in the 2nd quarter worth approximately $27,000. Finally, Larson Financial Group LLC increased its position 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 purchasing an additional 181 shares during the last quarter. Institutional investors own 98.55% of the company's stock.

Middleby Price Performance

Middleby stock opened at $112.75 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.99 and a quick ratio of 1.10. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of -12.18 and a beta of 1.32. The firm has a 50-day moving average of $137.12 and a two-hundred day moving average of $145.44. The Middleby Corporation has a 1 year low of $110.82 and a 1 year high of $180.13.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its earnings results on Tuesday, August 11th. The industrial products company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.26. Middleby had a negative net margin of 13.22% and a positive return on equity of 17.44%. The business had revenue of $875.55 million for the quarter, compared to analyst estimates of $836.99 million. During the same period last year, the company posted $2.35 earnings per share. The company's quarterly revenue was down 10.5% compared to the same quarter last year. 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, research analysts forecast that The Middleby Corporation will post 6.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings lowered Middleby from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 18th. Barclays reiterated an "overweight" rating and set a $145.00 price objective (down from $155.00) on shares of Middleby in a research report on Thursday, August 13th. JPMorgan Chase & Co. reduced their target price on shares of Middleby from $151.00 to $141.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 12th. Robert W. Baird lowered shares of Middleby from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 8th. Finally, Oppenheimer reiterated an "outperform" rating and set a $160.00 price target (down from $205.00) on shares of Middleby in a report on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Middleby presently has a consensus rating of "Hold" and a consensus price target of $160.38.

Middleby Company 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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