The Manufacturers Life Insurance Company Makes New Investment in The Middleby Corporation $MIDD

The Manufacturers Life Insurance Company acquired a new stake in The Middleby Corporation (NASDAQ:MIDD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 42,513 shares of the industrial products company's stock, valued at approximately $7,313,000. The Manufacturers Life Insurance Company owned about 0.09% of Middleby at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Hsbc Holdings PLC purchased a new position in shares of Middleby during the 4th quarter valued at about $2,464,000. Sei Investments Co. boosted its stake in shares of Middleby by 6.5% in the first quarter. Sei Investments Co. now owns 803,383 shares of the industrial products company's stock worth $106,514,000 after buying an additional 49,228 shares during the last quarter. Fifth Third Bancorp grew its holdings in Middleby by 272.0% during the first quarter. Fifth Third Bancorp now owns 32,441 shares of the industrial products company's stock worth $4,301,000 after acquiring an additional 23,721 shares during the period. Pictet Asset Management Holding SA raised its position in Middleby by 237.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 24,980 shares of the industrial products company's stock valued at $3,714,000 after acquiring an additional 17,586 shares in the last quarter. Finally, SummitTX Capital L.P. acquired a new position in Middleby in the first quarter valued at approximately $1,775,000. Hedge funds and other institutional investors own 98.55% of the company's stock.

Middleby Price Performance

MIDD stock opened at $112.75 on Monday. The stock has a market capitalization of $5.10 billion, a P/E ratio of -12.18 and a beta of 1.32. The firm has a 50-day simple moving average of $137.12 and a 200-day simple moving average of $145.33. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.88. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $180.13.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.26. Middleby had a negative net margin of 13.22% and a positive return on equity of 17.44%. The firm had revenue of $875.55 million for the quarter, compared to analyst estimates of $836.99 million. During the same period last year, the company posted $2.35 EPS. Middleby's quarterly revenue was down 10.5% compared to the same quarter last year. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. Equities analysts forecast that The Middleby Corporation will post 6.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MIDD shares. JPMorgan Chase & Co. dropped their price objective on shares of Middleby from $151.00 to $141.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of Middleby from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 18th. Oppenheimer restated an "outperform" rating and set a $160.00 price target (down from $205.00) on shares of Middleby in a research report on Wednesday, August 12th. Robert W. Baird downgraded shares of Middleby from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 8th. Finally, Seaport Research Partners set a $145.00 target price on shares of Middleby in a research note on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Middleby has a consensus rating of "Hold" and a consensus target price of $160.38.

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.

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