Pacer Advisors Inc. Has $146.31 Million Position in The Middleby Co. (NASDAQ:MIDD)

Pacer Advisors Inc. decreased its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,080,155 shares of the industrial products company’s stock after selling 58,844 shares during the quarter. Pacer Advisors Inc. owned approximately 2.01% of Middleby worth $146,307,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MIDD. Sei Investments Co. lifted its stake in shares of Middleby by 27.4% during the 2nd quarter. Sei Investments Co. now owns 76,345 shares of the industrial products company’s stock worth $9,361,000 after buying an additional 16,432 shares during the last quarter. Atria Investments Inc lifted its position in Middleby by 533.3% during the third quarter. Atria Investments Inc now owns 10,348 shares of the industrial products company’s stock worth $1,440,000 after acquiring an additional 8,714 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Middleby by 142,460.0% during the third quarter. Quest Partners LLC now owns 7,128 shares of the industrial products company’s stock worth $992,000 after acquiring an additional 7,123 shares during the period. GAMMA Investing LLC grew its position in shares of Middleby by 27.2% in the fourth quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 133 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Middleby during the third quarter worth approximately $2,220,000. 98.55% of the stock is owned by institutional investors.

Middleby Trading Up 16.5 %

MIDD opened at $169.72 on Monday. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $169.92. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 23.41 and a beta of 1.61. The company has a 50-day simple moving average of $139.56 and a 200 day simple moving average of $137.45.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. During the same quarter in the prior year, the business posted $2.35 EPS. The business’s revenue was down 3.9% on a year-over-year basis. Analysts predict that The Middleby Co. will post 9.12 EPS for the current fiscal year.

Analysts Set New Price Targets

MIDD has been the topic of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Middleby in a report on Friday, December 20th. Jefferies Financial Group restated a “hold” rating and issued a $160.00 price target (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Finally, StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $154.67.

Middleby Profile

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.