Dixon Mitchell Investment Counsel Inc. Has $19.86 Million Stake in The Middleby Corporation $MIDD

Dixon Mitchell Investment Counsel Inc. lessened its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 16.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 149,305 shares of the industrial products company’s stock after selling 29,115 shares during the quarter. Dixon Mitchell Investment Counsel Inc.’s holdings in Middleby were worth $19,864,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MIDD. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Middleby during the 2nd quarter worth $30,000. Allworth Financial LP grew its holdings in shares of Middleby by 168.8% during the second quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 130 shares during the last quarter. TFC Financial Management Inc. increased its stake in shares of Middleby by 23,000.0% in the third quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock valued at $31,000 after buying an additional 230 shares during the period. EverSource Wealth Advisors LLC boosted its position in Middleby by 280.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock worth $47,000 after buying an additional 241 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Middleby during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Down 0.6%

Middleby stock opened at $149.88 on Tuesday. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of -26.16 and a beta of 1.36. The firm’s fifty day moving average price is $155.74 and its two-hundred day moving average price is $140.66. The Middleby Corporation has a 1-year low of $110.82 and a 1-year high of $169.44. The company has a current ratio of 2.57, a quick ratio of 1.92 and a debt-to-equity ratio of 0.77.

Middleby (NASDAQ:MIDD) last posted its earnings results on Thursday, February 26th. The industrial products company reported $2.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.13). Middleby had a positive return on equity of 14.57% and a negative net margin of 7.44%.The business had revenue of $334.59 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company earned $2.88 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Middleby has set its FY 2026 guidance at 9.200-9.360 EPS and its Q1 2026 guidance at 1.900-2.020 EPS. On average, equities research analysts predict that The Middleby Corporation will post 9.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MIDD. Barclays set a $168.00 price target on shares of Middleby and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Middleby in a research report on Monday, December 29th. Canaccord Genuity Group set a $187.00 price objective on Middleby and gave the stock a “buy” rating in a research report on Tuesday, February 24th. KeyCorp upped their target price on Middleby from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, Zacks Research lowered Middleby from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.17.

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.