Wells Fargo & Company MN increased its stake in shares of Nomad Foods Ltd (NYSE:NOMD) by 11.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,988,190 shares of the company’s stock after buying an additional 401,486 shares during the quarter. Wells Fargo & Company MN owned about 2.05% of Nomad Foods worth $81,558,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Samlyn Capital LLC bought a new position in shares of Nomad Foods in the 4th quarter valued at $60,166,000. Norges Bank bought a new position in Nomad Foods during the 4th quarter worth $27,591,000. Laurion Capital Management LP bought a new position in Nomad Foods during the 1st quarter worth $19,971,000. Sycomore Asset Management bought a new position in Nomad Foods during the 4th quarter worth $13,564,000. Finally, American Century Companies Inc. bought a new position in Nomad Foods during the 4th quarter worth $10,920,000. 77.55% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the company. TheStreet lowered Nomad Foods from a “b-” rating to a “c+” rating in a research report on Tuesday, June 11th. Zacks Investment Research lowered Nomad Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Citigroup assumed coverage on Nomad Foods in a research report on Thursday, May 23rd. They set a “neutral” rating and a $24.00 target price for the company. DA Davidson assumed coverage on Nomad Foods in a research report on Wednesday, June 19th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, Goldman Sachs Group assumed coverage on Nomad Foods in a research report on Wednesday. They issued a “buy” rating and a $25.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.14.
Nomad Foods (NYSE:NOMD) last issued its earnings results on Thursday, May 9th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.09. The company had revenue of $617.80 million during the quarter, compared to the consensus estimate of $613.77 million. Nomad Foods had a return on equity of 9.84% and a net margin of 5.83%. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS. On average, research analysts forecast that Nomad Foods Ltd will post 1.38 EPS for the current fiscal year.
Nomad Foods Profile
Nomad Foods Limited, together with its subsidiaries, 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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