Wellington Management Group LLP Sells 444,189 Shares of The Middleby Corporation $MIDD

Wellington Management Group LLP decreased its stake in The Middleby Corporation (NASDAQ:MIDD) by 37.0% in the second quarter, Holdings Channel.com reports. The firm owned 755,818 shares of the industrial products company’s stock after selling 444,189 shares during the period. Wellington Management Group LLP’s holdings in Middleby were worth $130,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 worth $66,000 after buying an additional 205 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Middleby by 6.7% during 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 acquiring an additional 9,936 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Middleby by 344.7% in the first quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 1,727 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Middleby by 280.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 241 shares during the last quarter. Finally, Cresset Asset Management LLC purchased a new position in shares of Middleby during the 2nd quarter worth about $202,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Up 0.7%

NASDAQ:MIDD opened at $111.60 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.99 and a quick ratio of 1.10. The Middleby Corporation has a 1-year low of $109.68 and a 1-year high of $180.13. The company has a 50-day moving average of $134.96 and a 200 day moving average of $144.60. The firm has a market cap of $5.05 billion, a PE ratio of -12.05 and a beta of 1.31.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.09 by $0.26. Middleby had a negative net margin of 13.22% and a positive return on equity of 17.44%. The business had revenue of $875.55 million during the quarter, compared to analyst estimates of $836.99 million. During the same quarter in the previous year, the business posted $2.35 EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. As a group, research analysts anticipate that The Middleby Corporation will post 6.85 EPS for the current fiscal year.

Analysts Set New Price Targets

MIDD has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Middleby from $151.00 to $141.00 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Robert W. Baird cut Middleby from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Jefferies Financial Group reduced their price target on Middleby from $200.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Zacks Research lowered Middleby from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Finally, Seaport Research Partners set a $145.00 price objective on Middleby in a report on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.