Victory Capital Management Inc. Sells 19,214,025 Shares of The Middleby Corporation $MIDD

Victory Capital Management Inc. decreased its holdings in The Middleby Corporation (NASDAQ:MIDD) by 93.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,441,795 shares of the industrial products company’s stock after selling 19,214,025 shares during the quarter. Victory Capital Management Inc. owned approximately 2.86% of Middleby worth $191,658,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Clarkston Capital Partners LLC boosted its position in Middleby by 0.6% during the second quarter. Clarkston Capital Partners LLC now owns 692,764 shares of the industrial products company’s stock valued at $99,758,000 after acquiring an additional 4,204 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Middleby in the 2nd quarter worth about $478,000. Olstein Capital Management L.P. lifted its stake in shares of Middleby by 34.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 57,000 shares of the industrial products company’s stock valued at $7,577,000 after purchasing an additional 14,538 shares during the period. Vestor Capital LLC lifted its stake in shares of Middleby by 268.0% in the 2nd quarter. Vestor Capital LLC now owns 3,680 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 2,680 shares during the period. Finally, Bryce Point Capital LLC bought a new stake in shares of Middleby during the 2nd quarter valued at about $883,000. 98.55% of the stock is owned by institutional investors.

Insider Transactions at Middleby

In related news, Director Robert A. Nerbonne purchased 780 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was acquired at an average cost of $128.52 per share, with a total value of $100,245.60. Following the transaction, the director owned 21,471 shares of the company’s stock, valued at $2,759,452.92. This represents a 3.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.18% of the company’s stock.

Middleby Trading Down 1.7%

NASDAQ:MIDD opened at $162.13 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.57 and a quick ratio of 1.92. The Middleby Corporation has a one year low of $110.82 and a one year high of $169.44. The company has a market cap of $8.17 billion, a PE ratio of -28.29 and a beta of 1.37. The firm has a 50-day moving average of $155.48 and a 200-day moving average of $140.00.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, February 26th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15. The business had revenue of $866.43 million during the quarter, compared to the consensus estimate of $1.01 billion. Middleby had a positive return on equity of 14.57% and a negative net margin of 7.44%.The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.88 EPS. Middleby has set its FY 2026 guidance at 9.200-9.360 EPS and its Q1 2026 guidance at 1.900-2.020 EPS. As a group, equities research analysts expect that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Analyst Ratings Changes

MIDD has been the subject of several recent analyst reports. Zacks Research downgraded shares of Middleby from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Canaccord Genuity Group set a $187.00 target price on shares of Middleby and gave the stock a “buy” rating in a research note on Tuesday, February 24th. KeyCorp lifted their price target on shares of Middleby from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Robert W. Baird upped their price objective on shares of Middleby from $159.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. increased their price objective 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. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Middleby presently has a consensus rating of “Moderate Buy” and an average target price of $174.17.

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.