Clarkston Capital Partners LLC Grows Stock Holdings in The Middleby Corporation $MIDD

Clarkston Capital Partners LLC grew its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 692,764 shares of the industrial products company’s stock after purchasing an additional 4,204 shares during the quarter. Middleby makes up about 2.1% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 14th largest position. Clarkston Capital Partners LLC owned 1.37% of Middleby worth $99,758,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its position in Middleby by 0.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 40,076 shares of the industrial products company’s stock valued at $5,771,000 after acquiring an additional 330 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Middleby by 29.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 5,574 shares of the industrial products company’s stock worth $803,000 after acquiring an additional 1,272 shares during the last quarter. Choreo LLC purchased a new stake in shares of Middleby in the 2nd quarter valued at $235,000. Russell Investments Group Ltd. grew its holdings in shares of Middleby by 62.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 23,891 shares of the industrial products company’s stock valued at $3,440,000 after purchasing an additional 9,149 shares during the last quarter. Finally, XTX Topco Ltd raised its position in Middleby by 50.2% in the 2nd quarter. XTX Topco Ltd now owns 15,320 shares of the industrial products company’s stock worth $2,206,000 after purchasing an additional 5,123 shares during the period. Institutional investors own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MIDD shares. Wolfe Research set a $163.00 price objective on Middleby and gave the company an “outperform” rating in a research note on Thursday, September 4th. Weiss Ratings restated a “sell (d)” rating on shares of Middleby in a report on Monday. JPMorgan Chase & Co. raised Middleby from an “underweight” rating to a “neutral” rating and decreased their price target for the stock from $140.00 to $125.00 in a research note on Friday, November 7th. Zacks Research raised Middleby from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Canaccord Genuity Group cut their target price on shares of Middleby from $175.00 to $171.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $160.57.

Middleby Trading Up 0.2%

MIDD opened at $117.68 on Friday. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $182.73. The stock has a market cap of $5.93 billion, a PE ratio of 14.97 and a beta of 1.57. The business has a 50 day moving average of $127.62 and a 200-day moving average of $137.15.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.34. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The company had revenue of $982.13 million during the quarter, compared to analyst estimates of $961.21 million. During the same period last year, the business earned $2.33 EPS. Middleby’s quarterly 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. Equities research analysts predict that The Middleby Corporation will post 9.11 earnings per share for the current fiscal year.

About Middleby

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.