S&CO Inc. Sells 12,700 Shares of The Middleby Corporation $MIDD

Key Points

• S&CO Inc. reduced its stake in Middleby by 30.4% in Q1, selling 12,700 shares and leaving it with 29,100 shares valued at about $3.86 million.
• Middleby reported better-than-expected Q1 earnings of $2.16 per share on revenue of $839.91 million, with sales up 15% year over year.
• Analysts remain mixed but generally constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $178.25, though several firms recently trimmed targets.

S&CO Inc. cut its holdings in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 30.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,100 shares of the industrial products company's stock after selling 12,700 shares during the quarter. S&CO Inc. owned about 0.06% of Middleby worth $3,858,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position 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 acquiring an additional 1,902,957 shares during the period. Invesco Ltd. boosted its holdings in Middleby by 1,046.4% in the 3rd quarter. Invesco Ltd. now owns 1,018,536 shares of the industrial products company's stock valued at $135,394,000 after purchasing an additional 929,688 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Middleby by 4,256.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 722,137 shares of the industrial products company's stock worth $107,361,000 after purchasing an additional 705,560 shares during the last quarter. Cooke & Bieler LP acquired a new stake in Middleby in the 4th quarter worth $48,113,000. Finally, Marshall Wace LLP increased its holdings in shares of Middleby by 260.0% during the 3rd quarter. Marshall Wace LLP now owns 419,936 shares of the industrial products company's stock worth $55,822,000 after purchasing an additional 303,293 shares during the period. 98.55% of the stock is owned by institutional investors.

Middleby Price Performance

NASDAQ:MIDD opened at $133.22 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.96. The company has a 50-day moving average of $154.85 and a 200-day moving average of $151.04. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $180.13. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of -15.71 and a beta of 1.33.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its earnings results on Thursday, May 7th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.22. The business had revenue of $839.91 million for the quarter, compared to analysts' expectations of $777.19 million. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. 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, equities research analysts anticipate that The Middleby Corporation will post 9.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MIDD has been the subject of a number of research analyst reports. Jefferies Financial Group cut their price objective on shares of Middleby from $200.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. Oppenheimer began coverage on Middleby in a research note on Wednesday, June 17th. They set an "outperform" rating and a $205.00 price target on the stock. Canaccord Genuity Group set a $200.00 price target on Middleby in a report on Friday, May 8th. JPMorgan Chase & Co. reduced their price objective on Middleby from $185.00 to $151.00 and set a "neutral" rating for the company in a research report on Monday, July 13th. Finally, Wall Street Zen lowered Middleby from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $178.25.

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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