ProShare Advisors LLC Sells 78 Shares of The Middleby Co. (NASDAQ:MIDD)

ProShare Advisors LLC lowered its position in The Middleby Co. (NASDAQ:MIDD) by 3.0% in the second quarter, HoldingsChannel.com reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of MIDD. Rise Advisors LLC acquired a new stake in Middleby in the 1st quarter valued at about $25,000. Allspring Global Investments Holdings LLC lifted its position in shares of Middleby by 1,246.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock valued at $28,000 after buying an additional 162 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Middleby by 97.7% during the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 126 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Middleby during the 2nd quarter worth approximately $45,000. Finally, Crewe Advisors LLC raised its stake in Middleby by 620.0% in the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 310 shares during the period. Institutional investors own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

MIDD has been the topic of several research reports. KeyCorp decreased their price objective on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Robert W. Baird increased their price target on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a report on Saturday, September 14th. Raymond James initiated coverage on Middleby in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Middleby has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Middleby Price Performance

Middleby stock opened at $133.82 on Friday. The stock’s fifty day moving average price is $137.65 and its two-hundred day moving average price is $136.25. The firm has a market cap of $7.20 billion, a PE ratio of 18.64 and a beta of 1.58. 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 Middleby Co. has a one year low of $109.59 and a one year high of $161.01.

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

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.