The Middleby Corporation $MIDD Shares Newly Acquired by Skylands Capital LLC

Key Points

• Skylands Capital acquired a new 17,350-share stake in Middleby during the third quarter, valued at approximately $1.8 million. Institutional investors collectively own 98.55% of the company.
• Middleby reported quarterly EPS of $2.35, beating analyst expectations of $2.09, while revenue reached $875.55 million. However, revenue declined 10.5% year over year and the company posted a negative net margin.
• Middleby shares opened at $111.07, near the lower end of their 52-week range of $102.14 to $180.13. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $159.25, despite several recent rating downgrades.

Skylands Capital LLC bought a new stake in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 17,350 shares of the industrial products company's stock, valued at approximately $1,797,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MIDD. The Manufacturers Life Insurance Company grew its position in shares of Middleby by 14.3% in the first quarter. The Manufacturers Life Insurance Company now owns 67,926 shares of the industrial products company's stock valued at $9,006,000 after purchasing an additional 8,524 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Middleby during the 2nd quarter worth approximately $2,125,000. Hsbc Holdings PLC acquired a new position in shares of Middleby during the 4th quarter worth approximately $2,464,000. Sei Investments Co. raised its position in shares of Middleby by 6.5% during the 1st quarter. Sei Investments Co. now owns 803,383 shares of the industrial products company's stock worth $106,514,000 after purchasing an additional 49,228 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in Middleby in the 2nd quarter valued at approximately $9,588,000. Institutional investors and hedge funds own 98.55% of the company's stock.

Middleby Stock Performance

Middleby stock opened at $111.07 on Thursday. The stock has a fifty day moving average price of $109.94 and a 200 day moving average price of $134.12. The Middleby Corporation has a 52 week low of $102.14 and a 52 week high of $180.13. The firm has a market capitalization of $5.02 billion, a P/E ratio of -11.99 and a beta of 1.32. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.88.

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 (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 analyst estimates 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 quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the company earned $2.35 EPS. 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 research analysts anticipate that The Middleby Corporation will post 6.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen cut Middleby from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. cut their price target on Middleby from $147.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday, October 8th. Canaccord Genuity Group set a $160.00 price target on Middleby and gave the stock a "buy" rating in a report on Tuesday, September 1st. Barclays restated an "overweight" rating and issued a $145.00 price objective (down from $155.00) on shares of Middleby in a research report on Thursday, August 13th. Finally, Robert W. Baird lowered Middleby from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $159.25.

Middleby Company Profile

The Middleby Corporation NASDAQ: MIDD designs, manufactures and sells commercial, residential and food processing equipment. Its commercial foodservice products include conveyor, deck, combi and convection ovens; ranges, fryers, steam-cooking equipment, refrigeration systems, ventilation products and kitchen automation technologies. These products are used by restaurants, hotels, institutional kitchens, convenience stores, supermarkets and other foodservice operators.

Middleby also offers equipment and appliances for residential kitchens, including cooking products, refrigeration, ventilation and outdoor cooking systems.

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