Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 3,322 The Middleby Corporation $MIDD

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of The Middleby Corporation (NASDAQ:MIDD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,322 shares of the industrial products company’s stock, valued at approximately $478,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. TCTC Holdings LLC raised its stake in Middleby by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 91 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Middleby in the 2nd quarter valued at approximately $30,000. AdvisorShares Investments LLC acquired a new position in shares of Middleby in the second quarter valued at approximately $37,000. Abound Wealth Management raised its stake in shares of Middleby by 157.5% during the second quarter. Abound Wealth Management now owns 309 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 189 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Middleby during the second quarter worth $47,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Up 0.8%

MIDD stock opened at $112.59 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $129.35 and its 200 day moving average price is $137.82. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $182.73. The company has a market cap of $5.67 billion, a P/E ratio of 14.32 and a beta of 1.57.

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

Analyst Upgrades and Downgrades

MIDD has been the topic of several recent research reports. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Canaccord Genuity Group dropped their price target on shares of Middleby from $175.00 to $171.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Barclays set a $168.00 price objective on shares of Middleby and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Middleby in a report on Monday. Finally, JPMorgan Chase & Co. raised Middleby from an “underweight” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $125.00 in a research note on Friday, November 7th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $160.57.

Middleby 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.