Clarkston Capital Partners LLC Cuts Position in The Middleby Corporation $MIDD

Clarkston Capital Partners LLC cut its holdings in The Middleby Corporation (NASDAQ:MIDD) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 649,172 shares of the industrial products company’s stock after selling 43,592 shares during the period. Middleby comprises approximately 1.9% of Clarkston Capital Partners LLC’s portfolio, making the stock its 18th biggest holding. Clarkston Capital Partners LLC owned about 1.29% of Middleby worth $86,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MIDD. Connor Clark & Lunn Investment Management Ltd. bought a new position in Middleby during the second quarter worth about $478,000. Olstein Capital Management L.P. raised its position in shares of Middleby by 34.2% in the third quarter. Olstein Capital Management L.P. now owns 57,000 shares of the industrial products company’s stock valued at $7,577,000 after purchasing an additional 14,538 shares during the period. Vestor Capital LLC raised its position in shares of Middleby by 268.0% in the second quarter. Vestor Capital LLC now owns 3,680 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 2,680 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of Middleby during the 3rd quarter valued at approximately $11,701,000. Finally, Pacific Capital Partners Ltd purchased a new stake in shares of Middleby during the 3rd quarter valued at approximately $2,144,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MIDD has been the subject of a number of recent research reports. Canaccord Genuity Group set a $187.00 price objective on shares of Middleby and gave the company a “buy” rating in a research note on Tuesday, February 24th. Robert W. Baird increased their target price on Middleby from $159.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Zacks Research lowered Middleby from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. KeyCorp lifted their price target on Middleby from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Finally, Wall Street Zen lowered Middleby from a “buy” rating to a “hold” rating in a research note on Saturday. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.17.

Middleby Stock Performance

NASDAQ MIDD opened at $150.78 on Monday. The Middleby Corporation has a 1 year low of $110.82 and a 1 year high of $169.44. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.57 and a quick ratio of 1.92. The stock has a market capitalization of $7.11 billion, a PE ratio of -26.31 and a beta of 1.36. The company’s 50 day simple moving average is $155.78 and its two-hundred day simple moving average is $140.52.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, February 26th. The industrial products company reported $2.14 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.13). The firm had revenue of $334.59 million during the quarter, compared to the consensus estimate of $1.01 billion. Middleby had a negative net margin of 7.44% and a positive return on equity of 14.57%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.88 earnings per share. Middleby has set its FY 2026 guidance at 9.200-9.360 EPS and its Q1 2026 guidance at 1.900-2.020 EPS. Analysts predict that The Middleby Corporation will post 9.11 earnings per share for the current fiscal year.

Insider Transactions at Middleby

In other Middleby news, Director Robert A. Nerbonne bought 780 shares of Middleby stock in a transaction that occurred on Tuesday, December 9th. The stock was acquired at an average cost of $128.52 per share, for a total transaction of $100,245.60. Following the completion of the transaction, the director directly owned 21,471 shares in the company, valued at $2,759,452.92. This represents a 3.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.18% of the company’s stock.

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.