Wellington Management Group LLP Reduces Stock Position in The Middleby Corporation $MIDD

Wellington Management Group LLP trimmed its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 37.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 755,818 shares of the industrial products company’s stock after selling 444,189 shares during the quarter. Wellington Management Group LLP owned 1.67% of Middleby worth $130,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in 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 acquiring an additional 8,524 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Middleby during the 4th quarter valued at about $2,464,000. Sei Investments Co. lifted its stake in shares of Middleby by 6.5% in 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 period. Fifth Third Bancorp boosted its holdings in shares of Middleby by 272.0% in the first quarter. Fifth Third Bancorp now owns 32,441 shares of the industrial products company’s stock worth $4,301,000 after buying an additional 23,721 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new stake in Middleby during the first quarter valued at approximately $1,775,000. Institutional investors own 98.55% of the company’s stock.

Middleby Price Performance

Shares of Middleby stock opened at $111.60 on Wednesday. The firm has a market cap of $5.05 billion, a PE ratio of -12.05 and a beta of 1.31. The stock has a 50 day moving average of $134.96 and a 200 day moving average of $144.60. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.88. The Middleby Corporation has a 12 month low of $109.68 and a 12 month high of $180.13.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.26. Middleby had a positive return on equity of 17.44% and a negative net margin of 13.22%.The business had revenue of $875.55 million for the quarter, compared to analysts’ expectations of $836.99 million. During the same period in the prior year, the firm earned $2.35 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. On average, research analysts expect that The Middleby Corporation will post 6.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MIDD has been the topic of several recent research reports. Canaccord Genuity Group set a $160.00 price target on shares of Middleby and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. reduced their price objective on Middleby from $151.00 to $141.00 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Zacks Research cut Middleby from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Finally, Oppenheimer reiterated an “outperform” rating and set a $160.00 target price (down from $205.00) on shares of Middleby in a research report on Wednesday, August 12th. Six 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.75.

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.