Allianz Asset Management GmbH increased its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 445.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 703,599 shares of the company’s stock after acquiring an additional 574,604 shares during the quarter. Allianz Asset Management GmbH’s holdings in Nomad Foods were worth $11,898,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NOMD. Northern Trust Corp bought a new position in Nomad Foods during the second quarter worth $1,773,000. Stevens Capital Management LP bought a new position in Nomad Foods during the third quarter worth $174,000. American Century Companies Inc. bought a new position in Nomad Foods during the third quarter worth $533,000. Massey Quick Simon & CO. LLC bought a new position in Nomad Foods during the third quarter worth $208,000. Finally, Bank of New York Mellon Corp increased its position in Nomad Foods by 72.7% during the third quarter. Bank of New York Mellon Corp now owns 138,648 shares of the company’s stock worth $2,020,000 after acquiring an additional 58,386 shares during the period. 74.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nomad Foods Limited (NYSE NOMD) opened at $16.74 on Monday. Nomad Foods Limited has a 52 week low of $10.43 and a 52 week high of $17.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 1.03. The firm has a market cap of $2,912.71, a price-to-earnings ratio of 24.62 and a beta of 0.49.
A number of equities research analysts have weighed in on NOMD shares. Zacks Investment Research downgraded shares of Nomad Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. SunTrust Banks lifted their price target on shares of Nomad Foods to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. ValuEngine upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Berenberg Bank started coverage on shares of Nomad Foods in a research note on Thursday, November 16th. They set a “buy” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Nomad Foods presently has an average rating of “Buy” and an average target price of $18.25.
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Nomad Foods Company Profile
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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