Northern Trust Corp Reduces Stock Position in Nomad Foods Limited (NYSE:NOMD)

Northern Trust Corp trimmed its holdings in Nomad Foods Limited (NYSE:NOMD) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,391 shares of the company’s stock after selling 8,712 shares during the period. Northern Trust Corp’s holdings in Nomad Foods were worth $1,637,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOMD. UBS Asset Management Americas Inc. purchased a new stake in shares of Nomad Foods during the 3rd quarter worth about $223,000. Schonfeld Strategic Advisors LLC acquired a new position in Nomad Foods in the third quarter worth about $630,000. Brinker Capital Investments LLC acquired a new stake in Nomad Foods during the third quarter valued at approximately $662,000. Sei Investments Co. lifted its holdings in Nomad Foods by 65.1% during the 3rd quarter. Sei Investments Co. now owns 68,380 shares of the company’s stock worth $1,742,000 after buying an additional 26,960 shares during the last quarter. Finally, James Hambro & Partners acquired a new position in shares of Nomad Foods in the 4th quarter valued at about $225,000. 67.78% of the stock is owned by institutional investors.

A number of research firms recently issued reports on NOMD. Barclays boosted their price objective on Nomad Foods from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, February 18th. Credit Suisse Group boosted their price target on Nomad Foods from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 30th. Zacks Investment Research raised shares of Nomad Foods from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Thursday, February 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Nomad Foods from $32.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, March 30th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.82.

Shares of Nomad Foods stock opened at $29.43 on Wednesday. The firm has a 50 day simple moving average of $27.10 and a 200 day simple moving average of $25.58. Nomad Foods Limited has a fifty-two week low of $19.75 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.27 and a quick ratio of 0.87. The firm has a market cap of $5.07 billion, a P/E ratio of 24.53 and a beta of 0.71.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, February 25th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The business had revenue of $784.42 million during the quarter, compared to analyst estimates of $790.44 million. Nomad Foods had a return on equity of 10.37% and a net margin of 8.56%. On average, sell-side analysts expect that Nomad Foods Limited will post 1.61 EPS for the current year.

Nomad Foods Company Profile

Nomad Foods Limited 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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