The Middleby Corporation $MIDD Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lessened its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 21.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,564 shares of the industrial products company’s stock after selling 5,311 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Middleby were worth $2,817,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MIDD. State Board of Administration of Florida Retirement System lifted its holdings in shares of Middleby by 0.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 40,076 shares of the industrial products company’s stock worth $5,771,000 after acquiring an additional 330 shares during the last quarter. Quadrant Capital Group LLC raised its position in Middleby by 29.6% in the second quarter. Quadrant Capital Group LLC now owns 5,574 shares of the industrial products company’s stock valued at $803,000 after purchasing an additional 1,272 shares during the period. Choreo LLC acquired a new position in Middleby during the second quarter worth $235,000. Russell Investments Group Ltd. boosted its position in shares of Middleby by 62.1% during the second quarter. Russell Investments Group Ltd. now owns 23,891 shares of the industrial products company’s stock worth $3,440,000 after buying an additional 9,149 shares during the period. Finally, XTX Topco Ltd grew its stake in shares of Middleby by 50.2% in the second quarter. XTX Topco Ltd now owns 15,320 shares of the industrial products company’s stock valued at $2,206,000 after buying an additional 5,123 shares in the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MIDD shares. Zacks Research raised Middleby from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Wolfe Research set a $163.00 price target on shares of Middleby and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Barclays set a $168.00 price objective on shares of Middleby and gave the company an “overweight” rating in a report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. upgraded shares of Middleby from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $140.00 to $125.00 in a report on Friday, November 7th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $160.57.

Middleby Stock Up 0.2%

MIDD stock opened at $117.68 on Friday. The company’s 50 day moving average price is $127.62 and its 200 day moving average price is $137.15. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 14.97 and a beta of 1.57. The Middleby Corporation has a fifty-two week low of $110.82 and a fifty-two week high of $182.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.56 and a current ratio of 2.57.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.37 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 analysts’ expectations of $961.21 million. During the same quarter in the previous year, the business posted $2.33 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS. Q4 2025 guidance at 2.190-2.340 EPS. On average, equities research analysts anticipate that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

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.