The Manufacturers Life Insurance Company Grows Stock Holdings in The Middleby Corporation $MIDD

Key Points

• The Manufacturers Life Insurance Company increased its Middleby stake by 14.3% in the first quarter, bringing its holdings to 67,926 shares worth approximately $9.0 million.
• Institutional ownership remains very high at 98.55%, with several major investors—including T. Rowe Price, Garden Investment Management and JPMorgan—also adding to their positions.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $173.88 average price target, although recent target reductions and a $135.81 share price highlight some near-term caution.

The Manufacturers Life Insurance Company raised its holdings in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) by 14.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,926 shares of the industrial products company's stock after acquiring an additional 8,524 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.15% of Middleby worth $9,006,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MIDD. Price T Rowe Associates Inc. MD boosted its stake in Middleby by 49.2% in the 4th 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 purchasing an additional 1,902,957 shares during the period. Garden Investment Management L.P. lifted its position in Middleby by 3.1% during the fourth 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 purchasing an additional 102,903 shares during the last quarter. JPMorgan Chase & Co. grew its position in Middleby by 3.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,153,171 shares of the industrial products company's stock worth $320,112,000 after acquiring an additional 75,047 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Middleby by 4.1% during the fourth 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 last quarter. Finally, Turtle Creek Asset Management Inc. raised its position in Middleby by 4.2% during the third quarter. Turtle Creek Asset Management Inc. now owns 1,461,810 shares of the industrial products company's stock valued at $194,318,000 after purchasing an additional 59,050 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MIDD has been the subject of several analyst reports. KeyCorp set a $152.00 price objective on Middleby in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Middleby in a research note on Wednesday, July 29th. JPMorgan Chase & Co. cut their price objective on shares of Middleby from $185.00 to $151.00 and set a "neutral" rating on the stock in a research report on Monday, July 13th. Jefferies Financial Group reduced their target price 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. Finally, Robert W. Baird cut shares of Middleby from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 8th. Six 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $173.88.

Middleby Price Performance

Middleby stock opened at $135.81 on Tuesday. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of -16.02 and a beta of 1.33. The firm has a 50-day moving average of $151.80 and a two-hundred day moving average of $149.47. The Middleby Corporation has a 1 year low of $110.82 and a 1 year high of $180.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.96 and a quick ratio of 1.10.

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 for the quarter, beating analysts' consensus estimates of $1.94 by $0.22. The business had revenue of $839.91 million during the quarter, compared to analyst estimates of $777.19 million. Middleby had a positive return on equity of 15.94% and a negative net margin of 11.46%.Middleby's revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the company 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. On average, research analysts forecast that The Middleby Corporation will post 9.54 earnings per share for the current year.

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.

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