The Manufacturers Life Insurance Company Takes $7.31 Million Position in The Middleby Corporation $MIDD

The Manufacturers Life Insurance Company acquired a new position in shares of The Middleby Corporation (NASDAQ:MIDD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 42,513 shares of the industrial products company’s stock, valued at approximately $7,313,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MIDD. Price T Rowe Associates Inc. MD grew its holdings in Middleby by 49.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,772,249 shares of the industrial products company’s stock valued at $858,161,000 after buying an additional 1,902,957 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Middleby during the 2nd quarter valued at about $676,035,000. Garden Investment Management L.P. boosted its position in shares of Middleby by 3.1% during the 4th quarter. Garden Investment Management L.P. now owns 3,379,737 shares of the industrial products company’s stock valued at $502,466,000 after acquiring an additional 102,903 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Middleby by 3.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,153,171 shares of the industrial products company’s stock valued at $320,112,000 after purchasing an additional 75,047 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Middleby by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,486,120 shares of the industrial products company’s stock worth $220,950,000 after purchasing an additional 58,696 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $160.00 target price (down from $205.00) on shares of Middleby in a report on Wednesday, August 12th. KeyCorp set a $152.00 price target on shares of Middleby in a research report on Tuesday, July 14th. JPMorgan Chase & Co. decreased their price objective on Middleby from $151.00 to $141.00 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Canaccord Genuity Group set a $157.00 price objective on Middleby and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group cut their target price on Middleby from $200.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $160.38.

Middleby Price Performance

NASDAQ:MIDD opened at $112.75 on Monday. The Middleby Corporation has a 52 week low of $110.82 and a 52 week high of $180.13. The stock’s fifty day moving average is $137.12 and its two-hundred day moving average is $145.33. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of -12.18 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.88.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.26. Middleby had a positive return on equity of 17.44% and a negative net margin of 13.22%.The firm had revenue of $875.55 million for the quarter, compared to the consensus estimate of $836.99 million. During the same quarter in the previous year, the business earned $2.35 EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. Research analysts anticipate that The Middleby Corporation will post 6.85 EPS for the current year.

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.