The Middleby Corporation $MIDD Shares Sold by Turtle Creek Asset Management Inc.

Key Points

• Turtle Creek Asset Management reduced its Middleby stake by 15.5% in the first quarter, selling 173,475 shares. It still held 943,514 shares worth approximately $125.1 million, representing 2.09% of Middleby and 4.6% of its portfolio.
• Analyst sentiment remains generally positive, with six Buy ratings, three Holds and one Sell; MarketBeat reports a consensus “Moderate Buy” rating and a $173.88 target price. However, JPMorgan lowered its target to $151, while Robert W. Baird downgraded the stock to Hold.
• Middleby shares opened at $133.02, down 1.5%, below their 50-day and 200-day moving averages. The company recently beat quarterly earnings and revenue estimates, reporting $2.16 EPS and $839.91 million in revenue, up 15% year over year.

Turtle Creek Asset Management Inc. lessened its stake in The Middleby Corporation (NASDAQ:MIDD - Free Report) by 15.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 943,514 shares of the industrial products company's stock after selling 173,475 shares during the quarter. Middleby comprises about 4.6% of Turtle Creek Asset Management Inc.'s investment portfolio, making the stock its 10th largest holding. Turtle Creek Asset Management Inc. owned about 2.09% of Middleby worth $125,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MIDD. Torren Management LLC bought a new stake in shares of Middleby in the 4th quarter valued at about $25,000. Clearstead Advisors LLC increased its stake in Middleby by 201.8% in the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 111 shares in the last quarter. Larson Financial Group LLC increased its stake in Middleby by 1,292.9% in the fourth quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 181 shares in the last quarter. Danske Bank A S acquired a new stake in Middleby in the third quarter worth $27,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Middleby during the fourth quarter worth $35,000. Institutional investors and hedge funds own 98.55% of the company's stock.

Analyst Ratings Changes

MIDD has been the subject of a number of recent analyst reports. KeyCorp set a $152.00 price objective on shares of Middleby in a research report on Tuesday, July 14th. Robert W. Baird lowered Middleby from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 8th. Wall Street Zen raised Middleby from a "hold" rating to a "buy" rating in a research note on Monday, July 20th. JPMorgan Chase & Co. cut their price target on shares of Middleby from $185.00 to $151.00 and set a "neutral" rating on the stock in a research note on Monday, July 13th. Finally, Barclays set a $155.00 price objective on shares of Middleby and gave the stock an "overweight" rating in a research report on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.88.

Middleby Trading Down 1.5%

NASDAQ:MIDD opened at $133.02 on Thursday. The company has a market cap of $6.01 billion, a P/E ratio of -15.69 and a beta of 1.33. The Middleby Corporation has a twelve month low of $110.82 and a twelve month high of $180.13. The business has a 50 day moving average price of $152.57 and a two-hundred day moving average price of $149.93. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 0.77.

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