JPMorgan Chase & Co. cut its stake in Nomad Foods Ltd (NYSE:NOMD) by 10.2% in the third quarter, Holdings Channel reports. The fund owned 930,523 shares of the company’s stock after selling 105,485 shares during the quarter. JPMorgan Chase & Co.’s holdings in Nomad Foods were worth $18,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in NOMD. Systematic Financial Management LP raised its holdings in shares of Nomad Foods by 4.1% in the third quarter. Systematic Financial Management LP now owns 1,285,056 shares of the company’s stock valued at $26,035,000 after buying an additional 50,480 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Nomad Foods in the third quarter valued at about $22,067,000. GSA Capital Partners LLP raised its holdings in shares of Nomad Foods by 16.1% in the third quarter. GSA Capital Partners LLP now owns 89,631 shares of the company’s stock valued at $1,816,000 after buying an additional 12,427 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Nomad Foods by 2.8% in the third quarter. Wells Fargo & Company MN now owns 3,657,430 shares of the company’s stock valued at $74,100,000 after buying an additional 99,818 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Nomad Foods by 17.2% in the second quarter. FMR LLC now owns 14,483,492 shares of the company’s stock valued at $277,938,000 after buying an additional 2,125,506 shares during the last quarter. 73.89% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on NOMD shares. Zacks Investment Research raised shares of Nomad Foods from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday, January 22nd. TheStreet raised shares of Nomad Foods from a “d” rating to a “c” rating in a report on Tuesday, October 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $23.00.

Shares of NYSE:NOMD opened at $18.44 on Monday. The stock has a market capitalization of $3.21 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.10 and a beta of 1.28. Nomad Foods Ltd has a one year low of $15.27 and a one year high of $21.45. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.10 and a quick ratio of 0.60.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $531.00 million during the quarter, compared to analysts’ expectations of $514.37 million. Nomad Foods had a net margin of 7.66% and a return on equity of 10.14%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. As a group, sell-side analysts predict that Nomad Foods Ltd will post 1.35 EPS for the current year.

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Nomad Foods 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.

Read More: Intrinsic Value

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

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