ProShare Advisors LLC Has $311,000 Holdings in The Middleby Co. (NASDAQ:MIDD)

ProShare Advisors LLC decreased its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,535 shares of the industrial products company’s stock after selling 78 shares during the quarter. ProShare Advisors LLC’s holdings in Middleby were worth $311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in Middleby by 6.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 234,727 shares of the industrial products company’s stock worth $34,545,000 after acquiring an additional 14,495 shares during the period. PEAK6 Investments LLC bought a new stake in Middleby in the fourth quarter valued at about $3,435,000. Epoch Investment Partners Inc. lifted its stake in Middleby by 481.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 68,400 shares of the industrial products company’s stock valued at $10,066,000 after buying an additional 56,627 shares during the period. Neuberger Berman Group LLC boosted its holdings in Middleby by 33.3% during the fourth quarter. Neuberger Berman Group LLC now owns 5,601 shares of the industrial products company’s stock worth $824,000 after buying an additional 1,400 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Middleby by 533.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 483,214 shares of the industrial products company’s stock worth $71,115,000 after buying an additional 406,958 shares during the period. 98.55% of the stock is owned by institutional investors.

Middleby Stock Performance

Shares of Middleby stock opened at $133.82 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 18.64 and a beta of 1.58. The stock’s 50-day moving average is $137.65 and its 200-day moving average is $136.25. The Middleby Co. has a one year low of $109.59 and a one year high of $161.01.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The firm had revenue of $991.55 million for the quarter, compared to analysts’ expectations of $994.05 million. During the same quarter in the previous year, the business posted $2.47 EPS. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities analysts predict that The Middleby Co. will post 9.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MIDD has been the topic of several recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a $164.00 price objective on shares of Middleby in a research note on Friday, September 13th. KeyCorp lowered their price objective on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Robert W. Baird raised their price objective on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 target price on shares of Middleby in a research note on Saturday, September 14th. Finally, JPMorgan Chase & Co. raised their price target on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Middleby currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

About Middleby

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.