Retirement Systems of Alabama Decreases Holdings in The Middleby Corporation $MIDD

Retirement Systems of Alabama trimmed its stake in The Middleby Corporation (NASDAQ:MIDD) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,074 shares of the industrial products company’s stock after selling 8,993 shares during the quarter. Retirement Systems of Alabama owned approximately 0.18% of Middleby worth $11,841,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Middleby by 90.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 205 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Middleby by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,149 shares of the industrial products company’s stock valued at $23,884,000 after buying an additional 9,936 shares during the period. Focus Partners Wealth lifted its position in shares of Middleby by 344.7% during the 1st quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company’s stock valued at $339,000 after buying an additional 1,727 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Middleby by 3.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,894 shares of the industrial products company’s stock worth $2,433,000 after acquiring an additional 499 shares during the period. Finally, Signaturefd LLC increased its holdings in Middleby by 23.7% in the 2nd quarter. Signaturefd LLC now owns 418 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

MIDD has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Middleby from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Canaccord Genuity Group upped their price target on shares of Middleby from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Wall Street Zen upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d)” rating on shares of Middleby in a research report on Monday, December 29th. Finally, KeyCorp reiterated an “overweight” rating on shares of Middleby in a research report on Friday, December 5th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.83.

Insider Buying and Selling at Middleby

In related news, Director Robert A. Nerbonne acquired 780 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were bought at an average cost of $128.52 per share, for a total transaction of $100,245.60. Following the completion of the transaction, the director owned 21,471 shares in the company, valued at approximately $2,759,452.92. This trade represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.18% of the company’s stock.

Middleby Stock Up 1.1%

MIDD opened at $149.20 on Thursday. The firm has a market capitalization of $7.52 billion, a P/E ratio of -33.91 and a beta of 1.39. The Middleby Corporation has a one year low of $110.82 and a one year high of $182.73. The company has a fifty day moving average price of $141.59 and a 200-day moving average price of $136.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.07 and a quick ratio of 1.10.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.34. The company had revenue of $982.13 million during the quarter, compared to analyst estimates of $961.21 million. Middleby had a positive return on equity of 14.66% and a negative net margin of 5.22%.The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $2.33 earnings per share. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. Equities research analysts expect that The Middleby Corporation will post 9.11 earnings per share for the current fiscal year.

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.