Fifth Third Bancorp Grows Position in The Middleby Corporation $MIDD

Fifth Third Bancorp raised its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 272.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,441 shares of the industrial products company’s stock after acquiring an additional 23,721 shares during the period. Fifth Third Bancorp owned about 0.07% of Middleby worth $4,301,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Torren Management LLC bought a new stake in Middleby during the fourth quarter worth $25,000. Clearstead Advisors LLC boosted its position in Middleby by 201.8% during the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 111 shares during the period. Danske Bank A S bought a new position in Middleby in the 3rd quarter worth approximately $27,000. Larson Financial Group LLC boosted its holdings in shares of Middleby by 1,292.9% in the fourth quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 181 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Middleby by 135.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 245 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Trading Down 3.7%

NASDAQ:MIDD opened at $133.22 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The Middleby Corporation has a 12 month low of $110.82 and a 12 month high of $180.13. The company has a 50-day moving average price of $154.85 and a 200-day moving average price of $151.04. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of -15.71 and a beta of 1.33.

Middleby (NASDAQ:MIDD) last posted its earnings results on Thursday, May 7th. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.22. Middleby had a positive return on equity of 15.94% and a negative net margin of 11.46%.The firm had revenue of $839.91 million for the quarter, compared to the consensus estimate of $777.19 million. During the same quarter in the prior year, the business earned $2.08 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. Equities analysts predict that The Middleby Corporation will post 9.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MIDD. Canaccord Genuity Group set a $200.00 price target on shares of Middleby in a report on Friday, May 8th. JPMorgan Chase & Co. cut their target price on Middleby from $185.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Barclays reaffirmed an “overweight” rating and issued a $190.00 price objective (up from $168.00) on shares of Middleby in a research note on Friday, May 8th. Robert W. Baird cut Middleby from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, Oppenheimer started coverage on Middleby in a report on Wednesday, June 17th. They issued an “outperform” rating and a $205.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $178.25.

About Middleby

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.