Sowell Financial Services LLC boosted its holdings in Nomad Foods Limited (NYSE:NOMD) by 476.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,210 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Sowell Financial Services LLC’s holdings in Nomad Foods were worth $35,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of NOMD. Assenagon Asset Management S.A. grew its position in Nomad Foods by 34.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 14,299 shares of the company’s stock valued at $363,000 after purchasing an additional 3,625 shares during the period. First Trust Advisors LP acquired a new stake in Nomad Foods in the 4th quarter valued at $3,590,000. California Public Employees Retirement System grew its position in Nomad Foods by 33.2% in the 4th quarter. California Public Employees Retirement System now owns 410,362 shares of the company’s stock valued at $10,431,000 after purchasing an additional 102,294 shares during the period. State of Wisconsin Investment Board grew its position in Nomad Foods by 107.6% in the 4th quarter. State of Wisconsin Investment Board now owns 620,930 shares of the company’s stock valued at $15,784,000 after purchasing an additional 321,826 shares during the period. Finally, National Asset Management Inc. lifted its stake in Nomad Foods by 8.1% during the 4th quarter. National Asset Management Inc. now owns 17,136 shares of the company’s stock valued at $436,000 after acquiring an additional 1,283 shares in the last quarter. 76.56% of the stock is owned by institutional investors and hedge funds.
NOMD has been the topic of several recent analyst reports. Credit Suisse Group raised their price objective on Nomad Foods from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, March 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nomad Foods in a research note on Wednesday. Barclays raised their price objective on Nomad Foods from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, February 18th. Finally, Zacks Investment Research upgraded Nomad Foods from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Friday, May 14th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $29.67.
Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, May 6th. The company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.08. Nomad Foods had a net margin of 8.90% and a return on equity of 12.40%. The firm had revenue of $707.40 million during the quarter, compared to the consensus estimate of $701.67 million. During the same period in the prior year, the firm earned $0.33 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, research analysts expect that Nomad Foods Limited will post 1.92 earnings per share for the current fiscal year.
Nomad Foods 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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