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

Pacer Advisors Inc. cut its holdings in The Middleby Co. (NASDAQ:MIDD - Free Report) by 5.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,080,155 shares of the industrial products company's stock after selling 58,844 shares during the quarter. Pacer Advisors Inc. owned about 2.01% of Middleby worth $146,307,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in shares of Middleby by 4,494.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company's stock worth $171,524,000 after acquiring an additional 1,238,767 shares during the period. Geode Capital Management LLC raised its stake in shares of Middleby by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 936,596 shares of the industrial products company's stock valued at $130,341,000 after purchasing an additional 8,926 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Middleby by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 344,391 shares of the industrial products company's stock valued at $47,915,000 after purchasing an additional 2,676 shares in the last quarter. Oldfield Partners LLP lifted its holdings in shares of Middleby by 1.5% in the third quarter. Oldfield Partners LLP now owns 332,473 shares of the industrial products company's stock valued at $46,257,000 after purchasing an additional 4,837 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Middleby by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 237,974 shares of the industrial products company's stock worth $29,178,000 after buying an additional 642 shares during the period. 98.55% of the stock is owned by institutional investors.

Middleby Stock Performance

Shares of MIDD stock traded up $2.03 on Monday, reaching $171.75. The stock had a trading volume of 2,595,663 shares, compared to its average volume of 892,991. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $177.90. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of 23.69 and a beta of 1.61. The firm's 50-day moving average is $140.25 and its two-hundred day moving average is $137.78. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings data 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 net margin of 10.14% and a return on equity of 14.66%. The business had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. During the same quarter in the prior year, the company earned $2.35 EPS. Middleby's quarterly revenue was down 3.9% on a year-over-year basis. On average, research analysts expect that The Middleby Co. will post 9.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MIDD. Jefferies Financial Group restated a "hold" rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Canaccord Genuity Group increased their target price on shares of Middleby from $155.00 to $192.00 and gave the stock a "buy" rating in a report on Monday. KeyCorp lifted their price target on shares of Middleby from $160.00 to $185.00 and gave the company an "overweight" rating in a research note on Monday. Finally, StockNews.com downgraded shares of Middleby from a "buy" rating to a "hold" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $165.00.

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.