Lazard Asset Management LLC Sells 15,467 Shares of The Middleby Corporation $MIDD

Key Points

• Lazard Asset Management reduced its Middleby stake by 9.5%, selling 15,467 shares and retaining 147,907 shares valued at approximately $19.6 million.
• Institutional investors own 98.55% of Middleby’s stock, with several major holders—including T. Rowe Price, JPMorgan and Dimensional Fund Advisors—raising their positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $173.88, while Middleby shares traded near $135.09; the company recently beat quarterly EPS and revenue expectations.

Lazard Asset Management LLC lowered its stake in The Middleby Corporation (NASDAQ:MIDD - Free Report) by 9.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 147,907 shares of the industrial products company's stock after selling 15,467 shares during the period. Lazard Asset Management LLC owned approximately 0.32% of Middleby worth $19,610,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MIDD. Price T Rowe Associates Inc. MD grew its stake in Middleby by 49.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,772,249 shares of the industrial products company's stock worth $858,161,000 after buying an additional 1,902,957 shares in the last quarter. Garden Investment Management L.P. increased its holdings in Middleby by 3.1% in the 4th quarter. Garden Investment Management L.P. now owns 3,379,737 shares of the industrial products company's stock valued at $502,466,000 after buying an additional 102,903 shares during the period. JPMorgan Chase & Co. raised its position in shares of Middleby by 3.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,153,171 shares of the industrial products company's stock valued at $320,112,000 after buying an additional 75,047 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Middleby by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,486,120 shares of the industrial products company's stock worth $220,950,000 after acquiring an additional 58,696 shares during the period. Finally, Turtle Creek Asset Management Inc. lifted its holdings in shares of Middleby by 4.2% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 1,461,810 shares of the industrial products company's stock worth $194,318,000 after acquiring an additional 59,050 shares during the period. Institutional investors and hedge funds own 98.55% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MIDD shares. Jefferies Financial Group decreased their price objective on shares of Middleby from $200.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Middleby in a report on Friday, May 1st. Barclays set a $155.00 price target on Middleby and gave the company an "overweight" rating in a research note on Monday, July 20th. JPMorgan Chase & Co. lowered their price target on Middleby from $185.00 to $151.00 and set a "neutral" rating for the company in a report on Monday, July 13th. Finally, Robert W. Baird lowered Middleby from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $173.88.

Middleby Trading Down 0.7%

NASDAQ MIDD opened at $135.09 on Wednesday. The company has a market cap of $6.11 billion, a price-to-earnings ratio of -15.93 and a beta of 1.33. The Middleby Corporation has a twelve month low of $110.82 and a twelve month high of $180.13. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 0.77. The business's fifty day moving average is $152.78 and its 200 day moving average is $150.11.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its earnings results on Thursday, May 7th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.22. The business had revenue of $839.91 million during the quarter, compared to analysts' expectations of $777.19 million. Middleby had a positive return on equity of 15.94% and a negative net margin of 11.46%.The business's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 EPS. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. As a group, sell-side analysts expect that The Middleby Corporation will post 9.54 EPS for the current fiscal year.

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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