Nomad Foods Limited (NOMD) Shares Bought by Marshall Wace North America L.P.
Marshall Wace North America L.P. boosted its position in Nomad Foods Limited (NYSE:NOMD) by 494.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 372,861 shares of the company’s stock after buying an additional 310,119 shares during the period. Marshall Wace North America L.P. owned 0.21% of Nomad Foods Limited worth $5,220,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOMD. Boston Partners increased its position in Nomad Foods Limited by 26.2% in the second quarter. Boston Partners now owns 6,400,906 shares of the company’s stock worth $90,317,000 after buying an additional 1,329,198 shares in the last quarter. Pioneer Investment Management Inc. purchased a new position in Nomad Foods Limited during the second quarter worth approximately $12,215,000. Kohlberg Kravis Roberts & Co. L.P. purchased a new position in Nomad Foods Limited during the first quarter worth approximately $9,790,000. First Manhattan Co. purchased a new position in Nomad Foods Limited during the second quarter worth approximately $7,475,000. Finally, Russell Investments Group Ltd. increased its position in Nomad Foods Limited by 61.2% in the second quarter. Russell Investments Group Ltd. now owns 1,282,736 shares of the company’s stock worth $18,097,000 after buying an additional 487,240 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.
Shares of Nomad Foods Limited (NYSE:NOMD) opened at 15.20 on Wednesday. Nomad Foods Limited has a 12 month low of $9.00 and a 12 month high of $15.37. The firm has a market capitalization of $2.62 billion and a PE ratio of 34.39. The stock’s 50 day moving average price is $14.41 and its 200-day moving average price is $12.73.
Nomad Foods Limited (NYSE:NOMD) last announced its earnings results on Friday, August 25th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. Nomad Foods Limited had a net margin of 3.56% and a return on equity of 7.93%. The firm had revenue of $458.10 million for the quarter, compared to analyst estimates of $459.51 million. During the same quarter in the prior year, the business posted $0.19 EPS. The business’s revenue was up .5% compared to the same quarter last year. On average, equities analysts anticipate that Nomad Foods Limited will post $1.07 earnings per share for the current fiscal year.
Nomad Foods Limited announced that its board has initiated a stock buyback program on Monday, June 12th that permits the company to buyback $105.10 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through a private placement purchase. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of research analysts have commented on NOMD shares. ValuEngine downgraded Nomad Foods Limited from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Nomad Foods Limited from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, June 7th. Finally, UBS AG reaffirmed a “buy” rating and set a $17.00 target price on shares of Nomad Foods Limited in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Nomad Foods Limited presently has an average rating of “Buy” and a consensus target price of $15.25.
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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