Y Intercept Hong Kong Ltd Makes New Investment in The Middleby Corporation $MIDD

Y Intercept Hong Kong Ltd acquired a new stake in The Middleby Corporation (NASDAQ:MIDD) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,119 shares of the industrial products company’s stock, valued at approximately $680,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Middleby in the 2nd quarter valued at $30,000. Allworth Financial LP grew its holdings in shares of Middleby by 168.8% in the 2nd quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 130 shares in the last quarter. TFC Financial Management Inc. increased its position in shares of Middleby by 23,000.0% in the third quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 230 shares during the last quarter. AdvisorShares Investments LLC bought a new stake in Middleby during the second quarter worth about $37,000. Finally, Trust Co. of Toledo NA OH acquired a new position in Middleby during the second quarter valued at approximately $47,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Middleby from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. KeyCorp reaffirmed an “overweight” rating on shares of Middleby in a research report on Friday, December 5th. Canaccord Genuity Group boosted their price objective on shares of Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Middleby in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $163.83.

Middleby Trading Up 1.9%

Shares of NASDAQ:MIDD opened at $149.90 on Tuesday. The Middleby Corporation has a 12-month low of $110.82 and a 12-month high of $182.73. The business has a 50 day moving average of $143.61 and a 200-day moving average of $136.59. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.69. The stock has a market cap of $7.55 billion, a PE ratio of -34.07 and a beta of 1.40.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.34. Middleby had a positive return on equity of 14.66% and a negative net margin of 5.22%.The business had revenue of $982.13 million during the quarter, compared to analysts’ expectations of $961.21 million. During the same period last year, the firm posted $2.33 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. As a group, equities research analysts forecast that The Middleby Corporation will post 9.11 earnings per share for the current year.

Insider Activity

In other Middleby news, Director Robert A. Nerbonne bought 780 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were purchased at an average price of $128.52 per share, for a total transaction of $100,245.60. Following the transaction, the director directly owned 21,471 shares in the company, valued at approximately $2,759,452.92. This trade represents a 3.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.18% of the stock is currently owned by insiders.

Middleby Profile

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.