Earnest Partners 13F: Cuts The Middleby (MIDD) Stake by $2.8M

Earnest Partners has trimmed its position in The Middleby Corporation (NasdaqGS:MIDD), as disclosed in its latest Form 13F filing with the SEC. The fund reduced its holdings by 16,344 shares, representing a 1.25% decrease. As of the filing, Earnest Partners holds approximately 1.29 million shares valued at $222.6 million. This filing reflects holdings as of the end of the reporting period and may not represent the fund's current position.

What Changed in Earnest Partners' Middleby Position

Earnest Partners decreased its stake in Middleby from 1,308,576 shares to 1,292,232 shares. The reduction of 16,344 shares equates to a 1.25% decrease in its holdings. The value of the shares held by Earnest Partners is approximately $222.6 million.

Other Institutional Activity in Middleby

Several other institutional investors have adjusted their positions in Middleby. Price T Rowe Associates increased its holdings by 642,152 shares, now owning about 6.41 million shares valued at $850.4 million. BlackRock, Inc. added 97,433 shares, bringing its total to 4.25 million shares worth $563.8 million. JPMorgan Chase & Co grew its stake by 214,144 shares, holding 2.37 million shares valued at $301.1 million. Garden Investment Management maintained its position with 3.38 million shares valued at $448.1 million.

The Middleby Corporation Stock Up 58.3%

Shares of Middleby (NasdaqGS:MIDD) are trading around $172.26. The company has a market capitalization of about $7.79 billion and a P/E ratio of 23.60, with a forward P/E of 15.84. Middleby shows a beta of 1.355, indicating some volatility compared to the market. The stock's 52-week range has been between $110.82 and $173.42. It has a 50-day moving average of $149.54 and a 200-day moving average of $142.63.

Recent Earnings

Middleby reported revenue of approximately $3.31 billion, with a growth rate of 15%. However, the company has a negative net margin of -12.69% and a return on equity of 12.04%. The next earnings report is expected on August 5, 2026.

Insider Buying and Selling at The Middleby Corporation

On March 13, 2026, several insiders at Middleby made transactions. CFO Bryan Mittelman sold 1,335 shares at an average price of $143.08. Chief Accounting Officer Brittany Cerwin sold 801 shares at the same price, while Chief Technology Officer James Pool III sold 1,626 shares. Additionally, Chief Development Officer Matthew Fuchsen sold 688 shares.

Analysts Set New Price Targets

Analyst activity has been robust for Middleby. On June 17, 2026, Oppenheimer initiated coverage with a buy rating and a $205 price target. JP Morgan maintained a hold rating with a $185 target on May 8, 2026, while Barclays also maintained a buy rating with a $190 target. The consensus among analysts is a buy recommendation, with a target mean price of $195.25 based on eight analyst opinions.

About The Middleby Corporation

The Middleby Corporation, headquartered in Elgin, Illinois, designs and manufactures commercial restaurant and food processing equipment. Its products range from ovens and fryers to beverage dispensing systems and kitchen ventilation. Led by CEO Timothy J. FitzGerald, Middleby operates in the industrial machinery sector, employing over 8,800 people worldwide.

Bottom Line

Earnest Partners' recent filing shows a slight reduction in its Middleby stake, which is a small move within its overall portfolio. Investors often track these filings to gauge institutional sentiment, but it's important to remember that 13F filings are backward-looking and may not reflect current positions. Middleby continues to attract attention with its stable market presence and analyst interest.