Edward P. Garden, Director of Middleby Corp (NASDAQ:MIDD), has significantly increased his stake in the company through a series of stock purchases. According to a recent SEC filing, Garden acquired a total of 51,571 shares of Middleby Corp common stock over three consecutive days in mid-May. The transactions took place at prices ranging from $148.4 to $149.62 per share, near the current trading price of $151.49. The stock has shown strong momentum, gaining over 8.5% in the past week.
The acquisitions, executed between May 14 and May 16, 2025, amounted to a total value of approximately $7.67 million. Following these transactions, Garden’s total holdings in Middleby Corp now stand at 3,139,834 shares. The purchases were made indirectly through GI SPV I, a vehicle managed by Garden Investment Management, where Garden holds a significant interest. InvestingPro data shows Middleby maintains a healthy financial position with a current ratio of 2.72 and operates with moderate debt levels.
These transactions highlight Garden’s continued confidence in Middleby Corp, a leading player in the commercial kitchen equipment industry with a market capitalization of $8.1 billion. According to InvestingPro, the company maintains a GOOD overall financial health score, though current valuations suggest the stock is trading slightly above its Fair Value. Subscribers can access 10+ additional ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, Middleby Corp reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of $2.08, surpassing analysts’ expectations of $1.98. Despite this positive earnings result, the company’s revenue fell short of forecasts, coming in at $906.63 million, approximately 4% below Wall Street’s expectations. The shortfall in revenue was largely due to underperformance in the Food Processing segment, which missed consensus estimates by about 10% due to customer-requested delivery delays. Canaccord Genuity responded to these results by lowering Middleby’s stock price target from $200 to $186, although it maintained a Buy rating on the shares. The firm cited the company’s ongoing tariff challenges, which are projected to increase annual expenses by $150 million to $200 million, as a factor in the revised outlook.
Middleby Corp is also planning a strategic spin-off of its Food Processing segment by early 2026, a move aimed at unlocking value and enhancing operational focus. Additionally, the company has authorized a substantial $7.5 billion share repurchase program, reflecting confidence in its financial position and future prospects. At its recent Annual Meeting of Stockholders, Middleby Corp secured shareholder approval for all ten board nominees and executive compensation packages, demonstrating continued investor confidence. The company also ratified Ernst & Young LLP as its independent public accountants for the fiscal year ending January 3, 2026.
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