The Middleby Corporation $MIDD Stake Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in shares of The Middleby Corporation (NASDAQ:MIDD) by 67.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,030 shares of the industrial products company’s stock after selling 16,950 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Middleby were worth $1,065,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MIDD. Torren Management LLC acquired a new stake in Middleby during the 4th quarter worth about $25,000. Clearstead Advisors LLC increased its holdings in shares of Middleby by 201.8% in the 4th quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 111 shares during the period. Danske Bank A S purchased a new stake in shares of Middleby in the third quarter worth approximately $27,000. Larson Financial Group LLC lifted its position 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 purchasing an additional 181 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Middleby by 135.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 245 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. 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 issued reports on MIDD shares. Canaccord Genuity Group set a $200.00 target price on shares of Middleby in a research report on Friday, May 8th. Jefferies Financial Group reiterated a “buy” rating and set a $195.00 price objective on shares of Middleby in a report on Tuesday, March 31st. Wall Street Zen raised Middleby from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. Oppenheimer began coverage on Middleby in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $205.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Middleby from $150.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.62.

Middleby Stock Performance

MIDD stock opened at $139.26 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of -16.42 and a beta of 1.33. The Middleby Corporation has a 12 month low of $110.82 and a 12 month high of $180.13. The firm has a 50 day moving average of $156.70 and a two-hundred day moving average of $151.92.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.22. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. The business had revenue of $839.91 million for the quarter, compared to the consensus estimate of $777.19 million. During the same quarter last year, the firm earned $2.08 EPS. Middleby’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. As a group, equities analysts anticipate that The Middleby Corporation will post 9.58 EPS for the current fiscal year.

Middleby Company 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.