Geode Capital Management LLC Decreases Stock Holdings in The Middleby Corporation $MIDD

Geode Capital Management LLC lowered its stake in The Middleby Corporation (NASDAQ:MIDD) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 974,967 shares of the industrial products company’s stock after selling 14,687 shares during the quarter. Geode Capital Management LLC owned 1.82% of Middleby worth $140,418,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in MIDD. TCTC Holdings LLC grew its position in shares of Middleby by 116.7% in the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 91 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Middleby in the 2nd quarter valued at about $30,000. Allworth Financial LP increased its stake in Middleby by 168.8% during the 2nd quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock worth $30,000 after buying an additional 130 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Middleby during the second quarter valued at approximately $37,000. Finally, Abound Wealth Management boosted its stake in shares of Middleby by 157.5% in the second quarter. Abound Wealth Management now owns 309 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 189 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MIDD shares. Wolfe Research set a $163.00 price objective on Middleby and gave the company an “outperform” rating in a report on Thursday, September 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Middleby in a research note on Monday. Wall Street Zen upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. upgraded shares of Middleby from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $140.00 to $125.00 in a report on Friday, November 7th. Finally, Canaccord Genuity Group lowered their target price on Middleby from $175.00 to $171.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Middleby presently has a consensus rating of “Hold” and an average target price of $160.57.

Middleby Price Performance

Shares of MIDD stock opened at $113.60 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.56. The company has a market capitalization of $5.72 billion, a PE ratio of 14.45 and a beta of 1.57. The firm’s 50-day moving average is $130.40 and its two-hundred day moving average is $138.18. The Middleby Corporation has a 12 month low of $112.61 and a 12 month high of $182.73.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.34. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The business had revenue of $982.13 million during the quarter, compared to the consensus estimate of $961.21 million. During the same quarter last year, the firm earned $2.33 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS. Q4 2025 guidance at 2.190-2.340 EPS. Analysts predict that The Middleby Corporation will post 9.11 earnings per share for the current year.

Middleby Company Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.