Arrowstreet Capital Limited Partnership raised its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 25.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,530,548 shares of the company’s stock after acquiring an additional 312,815 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.84% of Nomad Foods Limited worth $21,596,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NOMD. Clearbridge Investments LLC bought a new stake in Nomad Foods Limited during the 1st quarter valued at $1,605,000. Kohlberg Kravis Roberts & Co. L.P. bought a new stake in Nomad Foods Limited during the 1st quarter valued at $9,790,000. Fox Run Management L.L.C. bought a new stake in Nomad Foods Limited during the 2nd quarter valued at $377,000. Legato Capital Management LLC bought a new stake in Nomad Foods Limited during the 2nd quarter valued at $2,552,000. Finally, Russell Investments Group Ltd. boosted its position in Nomad Foods Limited by 61.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,282,736 shares of the company’s stock valued at $18,097,000 after acquiring an additional 487,240 shares in the last quarter. 78.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nomad Foods Limited (NYSE NOMD) traded up 0.68% during mid-day trading on Wednesday, hitting $14.79. The stock had a trading volume of 40,070 shares. The firm has a market cap of $2.55 billion and a PE ratio of 32.79. Nomad Foods Limited has a 12 month low of $9.00 and a 12 month high of $15.49. The stock’s 50-day moving average is $14.91 and its 200 day moving average is $13.65.
Nomad Foods Limited (NYSE:NOMD) last issued its earnings results on Friday, August 25th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The firm had revenue of $458.10 million during the quarter, compared to the consensus estimate of $459.51 million. Nomad Foods Limited had a net margin of 3.56% and a return on equity of 7.93%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Equities research analysts predict that Nomad Foods Limited will post $1.09 earnings per share for the current fiscal year.
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Several brokerages have recently commented on NOMD. Zacks Investment Research lowered Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 15th. UBS AG reiterated a “buy” rating and set a $17.00 price objective on shares of Nomad Foods Limited in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $15.00.
About Nomad Foods Limited
Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The companys frozen food products include fish, vegetables, poultry products, and ready meals. It sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Findus, and Iglo brands.
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