OppenheimerFunds Inc. lowered its position in Nomad Foods Ltd (NYSE:NOMD) by 21.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 884,280 shares of the company’s stock after selling 242,410 shares during the period. OppenheimerFunds Inc.’s holdings in Nomad Foods were worth $18,083,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in NOMD. Samlyn Capital LLC purchased a new stake in shares of Nomad Foods in the 4th quarter worth approximately $60,166,000. Norges Bank acquired a new position in Nomad Foods during the 4th quarter valued at approximately $27,591,000. Laurion Capital Management LP acquired a new position in Nomad Foods during the 1st quarter valued at approximately $19,971,000. Sycomore Asset Management acquired a new position in Nomad Foods during the 4th quarter valued at approximately $13,564,000. Finally, American Century Companies Inc. acquired a new stake in shares of Nomad Foods in the fourth quarter worth $10,920,000. 77.58% of the stock is currently owned by hedge funds and other institutional investors.
NOMD has been the topic of a number of research reports. UBS Group set a $25.00 price objective on shares of Nomad Foods and gave the stock a “buy” rating in a research note on Friday, March 1st. Citigroup initiated coverage on shares of Nomad Foods in a research note on Thursday, May 23rd. They issued a “neutral” rating and a $24.00 price objective on the stock. Zacks Investment Research lowered shares of Nomad Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, TheStreet upgraded shares of Nomad Foods from a “c” rating to a “b” rating in a research note on Friday, March 29th. One research analyst has rated the stock with a sell rating, one has assigned 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 price target of $23.60.
NOMD stock opened at $20.74 on Friday. The firm has a market cap of $3.92 billion, a P/E ratio of 14.71, a PEG ratio of 1.63 and a beta of 1.09. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. Nomad Foods Ltd has a one year low of $15.87 and a one year high of $22.67.
Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.09. The company had revenue of $617.80 million for the quarter, compared to analyst estimates of $613.77 million. Nomad Foods had a net margin of 5.83% and a return on equity of 9.84%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the business earned $0.35 earnings per share. Research analysts predict that Nomad Foods Ltd will post 1.37 earnings per share for the current year.
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Nomad Foods Profile
Nomad Foods Limited, together with its subsidiaries, produces, markets, and distributes frozen foods in the United Kingdom, Italy, Germany, Sweden, France, Norway, Austria, Spain, and rest of Europe. The company offers fish products, including fish fingers, coated fish, and natural fish; vegetables, such as peas and spinach; and poultry and meat products comprising nuggets, grills, and burgers.
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