Royal Bank of Canada Sells 16,121 Shares of The Middleby Corporation $MIDD

Royal Bank of Canada reduced its holdings in The Middleby Corporation (NASDAQ:MIDD) by 83.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,236 shares of the industrial products company’s stock after selling 16,121 shares during the period. Royal Bank of Canada’s holdings in Middleby were worth $429,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MIDD. Federation des caisses Desjardins du Quebec increased its position in shares of Middleby by 2.2% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,317 shares of the industrial products company’s stock valued at $642,000 after acquiring an additional 91 shares during the last quarter. Root Financial Partners LLC boosted its position in Middleby by 64.2% during the first quarter. Root Financial Partners LLC now owns 261 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 102 shares during the last quarter. Evoke Wealth LLC boosted its position in Middleby by 5.8% during the fourth quarter. Evoke Wealth LLC now owns 1,939 shares of the industrial products company’s stock valued at $288,000 after purchasing an additional 107 shares during the last quarter. Cresset Asset Management LLC grew its stake in Middleby by 7.6% in the third quarter. Cresset Asset Management LLC now owns 1,509 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 107 shares in the last quarter. Finally, Clearstead Advisors LLC grew its stake in Middleby by 201.8% in the fourth 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 in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MIDD has been the topic of a number of analyst reports. Oppenheimer reiterated an “outperform” rating and set a $160.00 price objective (down from $205.00) on shares of Middleby in a research note on Wednesday, August 12th. Barclays restated an “overweight” rating and set a $145.00 target price (down from $155.00) on shares of Middleby in a report on Thursday, August 13th. Robert W. Baird lowered shares of Middleby from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Seaport Research Partners set a $145.00 price target on shares of Middleby in a research note on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $160.38.

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $113.97 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $5.15 billion, a P/E ratio of -12.31 and a beta of 1.32. The Middleby Corporation has a 12 month low of $110.82 and a 12 month high of $180.13. The stock has a 50 day moving average of $140.47 and a 200-day moving average of $146.30.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $875.55 million for the quarter, compared to analysts’ expectations of $836.99 million. During the same quarter in the prior year, the business earned $2.35 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. As a group, equities research analysts predict that The Middleby Corporation will post 6.85 EPS for the current 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.