Oppenheimer Asset Management Inc. Makes New $3.98 Million Investment in The Middleby Corporation $MIDD

Key Points

• Oppenheimer Asset Management purchased 23,142 Middleby shares worth approximately $3.98 million, joining other institutional investors that collectively own 98.55% of the company.
• Middleby exceeded quarterly expectations with EPS of $2.35 versus the $2.09 consensus and revenue of $875.55 million, although revenue fell 10.5% year over year.
• Shares opened at $117.91, well below their 52-week high of $180.13. Analysts maintain a “Moderate Buy” consensus with an average price target of $160.38, despite JPMorgan lowering its target to $141.

Oppenheimer Asset Management Inc. purchased a new stake in The Middleby Corporation (NASDAQ:MIDD - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 23,142 shares of the industrial products company's stock, valued at approximately $3,981,000. Oppenheimer Asset Management Inc. owned approximately 0.05% of Middleby as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of MIDD. The Manufacturers Life Insurance Company boosted its stake in Middleby by 14.3% in the first quarter. The Manufacturers Life Insurance Company now owns 67,926 shares of the industrial products company's stock valued at $9,006,000 after acquiring an additional 8,524 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Middleby during the fourth quarter worth $15,085,000. Hsbc Holdings PLC purchased a new stake in shares of Middleby during the 4th quarter valued at $2,464,000. Sei Investments Co. lifted its holdings in shares of Middleby by 6.5% during the 1st quarter. Sei Investments Co. now owns 803,383 shares of the industrial products company's stock valued at $106,514,000 after purchasing an additional 49,228 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Middleby by 272.0% in the 1st quarter. Fifth Third Bancorp now owns 32,441 shares of the industrial products company's stock worth $4,301,000 after purchasing an additional 23,721 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company's stock.

Middleby Price Performance

Shares of MIDD opened at $117.91 on Friday. The business's 50-day moving average is $146.85 and its two-hundred day moving average is $148.10. The company has a market capitalization of $5.33 billion, a P/E ratio of -12.73 and a beta of 1.32. The Middleby Corporation has a fifty-two week low of $110.82 and a fifty-two week high of $180.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.10 and a current ratio of 1.99.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating 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 business had revenue of $875.55 million during the quarter, compared to analysts' expectations of $836.99 million. During the same quarter in the previous year, the firm 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. Research analysts predict that The Middleby Corporation will post 6.85 earnings per share for the current year.

Wall Street Analyst Weigh In

MIDD has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Middleby from $151.00 to $141.00 and set a "neutral" rating on the stock in a research report on Wednesday. Weiss Ratings reissued a "sell (d+)" rating on shares of Middleby in a report on Wednesday, July 29th. Canaccord Genuity Group set a $157.00 price target on Middleby and gave the stock a "buy" rating in a research note on Wednesday. Seaport Research Partners set a $145.00 price objective on shares of Middleby in a report on Wednesday. Finally, KeyCorp set a $152.00 price objective on shares of Middleby in a research report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Middleby currently has an average rating of "Moderate Buy" and a consensus price target 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.

Want to see what other hedge funds are holding MIDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Middleby Corporation (NASDAQ:MIDD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source