Public Employees Retirement System of Ohio Purchases New Holdings in The Middleby Corporation $MIDD

Key Points

• Public Employees Retirement System of Ohio acquired 12,352 Middleby shares valued at approximately $2.125 million. Institutional investors collectively own 98.55% of the company.
• Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $160.43; recent actions included downgrades from Weiss Ratings and Wall Street Zen and a lower JPMorgan price target.
• Middleby exceeded quarterly expectations with EPS of $2.35 versus the $2.09 consensus and revenue of $875.55 million, although revenue declined 10.5% year over year. Shares opened at $111.75, near the company’s 52-week low of $109.68.

Public Employees Retirement System of Ohio acquired a new position in The Middleby Corporation (NASDAQ:MIDD - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,352 shares of the industrial products company's stock, valued at approximately $2,125,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MIDD. Clearstead Advisors LLC boosted 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 worth $25,000 after buying an additional 111 shares during the period. Danske Bank A S acquired a new position in Middleby during the third quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Middleby in the 2nd quarter worth about $27,000. Larson Financial Group LLC lifted its stake in Middleby by 1,292.9% in the 4th quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company's stock worth $29,000 after acquiring an additional 181 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its position in Middleby by 553.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company's stock worth $29,000 after acquiring an additional 144 shares during the period. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MIDD shares. Weiss Ratings downgraded Middleby from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 18th. KeyCorp set a $152.00 price target on shares of Middleby in a report on Tuesday, July 14th. Seaport Research Partners set a $145.00 price objective on shares of Middleby in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of Middleby from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Middleby from $151.00 to $141.00 and set a "neutral" rating for the company in a research note on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $160.43.

Trending Headlines about Middleby

Here are the key news stories impacting Middleby this week:

• Positive Sentiment: Zacks Research projects EPS growth from $6.84 in fiscal 2026 to $7.44 in fiscal 2027 and $7.99 in fiscal 2028, indicating expectations for improving profitability over the next two years.
• Neutral Sentiment: The firm forecasts quarterly EPS of $1.74 for Q3 2026 and $1.81 for Q4 2026. Its fiscal 2026 estimate of $6.84 is essentially in line with the broader consensus estimate of $6.85, suggesting little near-term earnings surprise.
• Negative Sentiment: Zacks Research reiterated a “Strong Sell” stance on Middleby, which can weigh on investor sentiment and likely contributes to the stock’s decrease. The near-term forecast also implies earnings remain below the company’s longer-term growth potential, with estimated EPS of $1.71 in Q1 2027 before gradually increasing in subsequent quarters.

Middleby Price Performance

Shares of Middleby stock opened at $111.75 on Monday. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -12.07 and a beta of 1.31. The stock has a 50-day simple moving average of $131.41 and a 200-day simple moving average of $143.51. The Middleby Corporation has a 52-week low of $109.68 and a 52-week high of $180.13. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.99 and a quick ratio of 1.10.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $875.55 million for the quarter, compared to the consensus estimate of $836.99 million. Middleby had a positive return on equity of 17.44% and a negative net margin of 13.22%.The firm's revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.35 earnings per share. 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, equities research analysts expect that The Middleby Corporation will post 6.85 earnings per share for the current fiscal year.

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.

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.