Nomad Foods Limited (NOMD) Shares Sold by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. reduced its holdings in Nomad Foods Limited (NYSE:NOMD) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,232 shares of the company’s stock after selling 297 shares during the quarter. PNC Financial Services Group Inc. owned 0.07% of Nomad Foods Limited worth $1,865,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Clearbridge Investments LLC purchased a new position in Nomad Foods Limited in the 1st quarter worth approximately $1,605,000. Kohlberg Kravis Roberts & Co. L.P. bought a new position in shares of Nomad Foods Limited in the 1st quarter worth $9,790,000. Fox Run Management L.L.C. bought a new position in shares of Nomad Foods Limited in the 2nd quarter worth $377,000. Legato Capital Management LLC bought a new position in shares of Nomad Foods Limited in the 2nd quarter worth $2,552,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Nomad Foods Limited by 61.2% in the 2nd 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 during the last quarter. Institutional investors and hedge funds own 78.20% of the company’s stock.
NOMD has been the topic of several research reports. UBS AG restated a “buy” rating and set a $17.00 price objective on shares of Nomad Foods Limited in a research report on Tuesday, June 13th. Zacks Investment Research lowered shares of Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.25.
Nomad Foods Limited (NOMD) opened at 15.04 on Wednesday. Nomad Foods Limited has a 12-month low of $9.00 and a 12-month high of $15.49. The stock has a 50 day moving average price of $14.95 and a 200-day moving average price of $13.52. The stock has a market capitalization of $2.59 billion and a PE ratio of 33.35.
Nomad Foods Limited (NYSE:NOMD) last announced its quarterly earnings results on Friday, August 25th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. The business had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $459.51 million. Nomad Foods Limited had a net margin of 3.56% and a return on equity of 7.93%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. On average, equities analysts anticipate that Nomad Foods Limited will post $1.11 earnings per share for the current fiscal year.
Nomad Foods Limited announced that its Board of Directors has initiated a stock buyback program on Monday, June 12th that permits the company to repurchase $105.10 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through a private placement purchase. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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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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