Investec Asset Management North America Inc. reduced its holdings in shares of Nomad Foods Ltd (NYSE:NOMD) by 2.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 536,905 shares of the company’s stock after selling 16,292 shares during the period. Investec Asset Management North America Inc.’s holdings in Nomad Foods were worth $10,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Oppenheimer Asset Management Inc. increased its stake in Nomad Foods by 13.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 22,250 shares of the company’s stock worth $427,000 after buying an additional 2,673 shares during the period. First Mercantile Trust Co. increased its position in shares of Nomad Foods by 48.4% in the 2nd quarter. First Mercantile Trust Co. now owns 11,190 shares of the company’s stock valued at $215,000 after purchasing an additional 3,650 shares during the last quarter. Bailard Inc. increased its position in shares of Nomad Foods by 8.6% in the 1st quarter. Bailard Inc. now owns 50,500 shares of the company’s stock valued at $795,000 after purchasing an additional 4,000 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of Nomad Foods by 4.5% in the 1st quarter. Engineers Gate Manager LP now owns 116,783 shares of the company’s stock valued at $1,838,000 after purchasing an additional 4,985 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Nomad Foods by 114.2% in the 1st quarter. Quantbot Technologies LP now owns 12,190 shares of the company’s stock valued at $191,000 after purchasing an additional 6,500 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:NOMD opened at $20.20 on Wednesday. Nomad Foods Ltd has a 52 week low of $14.00 and a 52 week high of $20.67. The company has a current ratio of 1.36, a quick ratio of 0.90 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.00 and a beta of 0.53.

Nomad Foods (NYSE:NOMD) last issued its earnings results on Thursday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. Nomad Foods had a net margin of 8.19% and a return on equity of 10.44%. The business had revenue of $488.20 million during the quarter, compared to analysts’ expectations of $482.81 million. During the same quarter in the prior year, the business posted $0.23 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts forecast that Nomad Foods Ltd will post 1.34 earnings per share for the current year.

A number of equities research analysts have commented on NOMD shares. Wells Fargo & Co started coverage on shares of Nomad Foods in a research report on Thursday, June 28th. They issued an “outperform” rating and a $23.00 price objective on the stock. ValuEngine downgraded shares of Nomad Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, May 29th. Zacks Investment Research downgraded shares of Nomad Foods from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 16th. UBS Group increased their price objective on shares of Nomad Foods from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Finally, Credit Suisse Group started coverage on shares of Nomad Foods in a research report on Tuesday, July 17th. They issued an “outperform” rating and a $24.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $22.17.

Nomad Foods Company Profile

Nomad Foods Limited manufactures and distributes frozen foods in Western 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. It also provides meals products that include ready to cook noodles, pasta, lasagne, pancakes, and other ready-made meals; and other products, such as soups, pizzas, and bakery goods.

Further Reading: NASDAQ Stock Market Explained

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

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