Peregrine Capital Management LLC Reduces Stake in The Middleby Corporation $MIDD

Peregrine Capital Management LLC cut its stake in The Middleby Corporation (NASDAQ:MIDD) by 8.8% in the first quarter, Holdings Channel reports. The fund owned 32,130 shares of the industrial products company’s stock after selling 3,100 shares during the period. Peregrine Capital Management LLC’s holdings in Middleby were worth $4,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MIDD. Price T Rowe Associates Inc. MD increased its position in Middleby by 49.2% during the fourth 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 last quarter. Garden Investment Management L.P. grew its stake in shares of Middleby by 3.1% in the 4th 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 buying an additional 102,903 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Middleby by 3.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,153,171 shares of the industrial products company’s stock worth $320,112,000 after buying an additional 75,047 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Middleby by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,486,120 shares of the industrial products company’s stock valued at $220,950,000 after buying an additional 58,696 shares during the period. Finally, Turtle Creek Asset Management Inc. raised its position in shares of Middleby by 4.2% during the 3rd 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 buying an additional 59,050 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Up 2.0%

NASDAQ:MIDD opened at $175.12 on Friday. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $176.44. The stock’s fifty day moving average is $155.47 and its two-hundred day moving average is $151.54. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of -20.65 and a beta of 1.33. 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) last issued its quarterly earnings data 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 analysts’ expectations of $777.19 million. Middleby had a positive return on equity of 15.94% and a negative net margin of 11.46%.The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. Research analysts anticipate that The Middleby Corporation will post 9.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Middleby in a research note on Friday, May 1st. Robert W. Baird set a $205.00 price target on Middleby in a report on Friday, May 8th. Oppenheimer initiated coverage on Middleby in a research report on Wednesday, June 17th. They set an “outperform” rating and a $205.00 price objective for the company. Canaccord Genuity Group set a $200.00 target price on shares of Middleby in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Middleby from $150.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Middleby currently has a consensus rating of “Moderate Buy” and an average price target of $191.62.

Middleby 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.