PNC Financial Services Group Inc. Sells 18,401 Shares of The Middleby Corporation $MIDD

Key Points

• PNC Financial Services Group reduced its Middleby position by 38.7%, selling 18,401 shares and retaining 29,147 shares worth approximately $3.86 million. Institutional investors and hedge funds collectively own 98.55% of the company.
• Middleby reported first-quarter earnings of $2.16 per share, exceeding the $1.94 consensus estimate, while revenue rose 15% year over year to $839.91 million.
• Shares opened at $136, below the 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $173.88, despite several recent target-price reductions.

PNC Financial Services Group Inc. cut its position in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 38.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,147 shares of the industrial products company's stock after selling 18,401 shares during the period. PNC Financial Services Group Inc. owned 0.06% of Middleby worth $3,864,000 at the end of the most recent quarter.

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

Middleby Price Performance

Middleby stock opened at $136.00 on Tuesday. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of -16.04 and a beta of 1.33. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The Middleby Corporation has a 12 month low of $110.82 and a 12 month high of $180.13. The stock's 50 day moving average is $152.91 and its 200-day moving average is $150.24.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate 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 firm's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $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. Equities research analysts expect that The Middleby Corporation will post 9.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Jefferies Financial Group decreased their target price on Middleby from $200.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, July 8th. JPMorgan Chase & Co. cut 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. Barclays set a $155.00 price objective on shares of Middleby and gave the stock an "overweight" rating in a research report on Monday, July 20th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Middleby in a report on Friday, May 1st. Finally, Wall Street Zen raised shares of Middleby from a "hold" rating to a "buy" rating in a research report on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $173.88.

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.

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.