Ninety One UK Ltd Lowers Stock Holdings in Nomad Foods Ltd (NYSE:NOMD)

Ninety One UK Ltd reduced its holdings in Nomad Foods Ltd (NYSE:NOMD) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,398,780 shares of the company’s stock after selling 579,882 shares during the period. Ninety One UK Ltd’s holdings in Nomad Foods were worth $158,704,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NOMD. Royal Bank of Canada lifted its stake in Nomad Foods by 19.5% in the 1st quarter. Royal Bank of Canada now owns 245,017 shares of the company’s stock worth $4,548,000 after purchasing an additional 40,057 shares in the last quarter. Waddell & Reed Financial Inc. increased its position in Nomad Foods by 8.3% during the first quarter. Waddell & Reed Financial Inc. now owns 4,194,177 shares of the company’s stock worth $77,844,000 after purchasing an additional 321,590 shares during the last quarter. New York State Common Retirement Fund raised its stake in Nomad Foods by 1,383.5% during the second quarter. New York State Common Retirement Fund now owns 360,739 shares of the company’s stock worth $7,738,000 after purchasing an additional 336,422 shares during the period. Geode Capital Management LLC raised its stake in Nomad Foods by 9.2% during the first quarter. Geode Capital Management LLC now owns 99,006 shares of the company’s stock worth $1,837,000 after purchasing an additional 8,313 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Nomad Foods by 434.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 137,152 shares of the company’s stock valued at $2,942,000 after purchasing an additional 111,476 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

A number of research firms recently commented on NOMD. Zacks Investment Research upgraded Nomad Foods from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Friday, June 19th. Citigroup upped their price target on Nomad Foods from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Jefferies Financial Group reissued a “buy” rating and set a $25.00 price objective on shares of Nomad Foods in a research report on Thursday, August 6th. UBS Group boosted their price objective on shares of Nomad Foods from $26.00 to $28.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, TheStreet raised shares of Nomad Foods from a “c+” rating to a “b” rating in a research note on Tuesday, August 25th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $25.89.

NYSE NOMD traded up $0.15 during trading on Tuesday, hitting $25.45. The stock had a trading volume of 1,126,845 shares, compared to its average volume of 1,328,285. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $5.12 billion, a PE ratio of 23.69 and a beta of 0.81. The firm has a 50 day moving average price of $24.36 and a 200 day moving average price of $21.26. Nomad Foods Ltd has a twelve month low of $14.08 and a twelve month high of $26.40.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The business had revenue of $599.00 million during the quarter, compared to analyst estimates of $596.27 million. Nomad Foods had a net margin of 7.96% and a return on equity of 9.69%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. On average, sell-side analysts anticipate that Nomad Foods Ltd will post 1.56 earnings per share for the current year.

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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Institutional Ownership by Quarter for Nomad Foods (NYSE:NOMD)

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