Zurcher Kantonalbank Zurich Cantonalbank Takes Position in Nomad Foods Limited (NYSE:NOMD)

Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Nomad Foods Limited (NYSE:NOMD – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,683 shares of the company’s stock, valued at approximately $132,000.

Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new stake in Nomad Foods during the 3rd quarter worth about $66,000. Ergoteles LLC acquired a new stake in Nomad Foods in the 3rd quarter worth approximately $150,000. Bridgefront Capital LLC acquired a new stake in Nomad Foods in the 3rd quarter worth approximately $158,000. Quantbot Technologies LP acquired a new stake in Nomad Foods in the 2nd quarter worth approximately $229,000. Finally, Baird Financial Group Inc. acquired a new stake in Nomad Foods in the 3rd quarter worth approximately $175,000. 78.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays lifted their price target on Nomad Foods from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, April 14th. The Goldman Sachs Group upgraded Nomad Foods from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Sunday, February 26th. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft dropped their price objective on Nomad Foods from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 24th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $20.00 price objective on shares of Nomad Foods in a research note on Monday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Nomad Foods Price Performance

Shares of NOMD opened at $19.39 on Tuesday. The stock has a market cap of $3.38 billion, a P/E ratio of 12.93 and a beta of 0.74. The company has a current ratio of 1.19, a quick ratio of 0.70 and a debt-to-equity ratio of 0.82. The stock’s 50-day moving average price is $18.42 and its two-hundred day moving average price is $17.42. Nomad Foods Limited has a 1 year low of $12.50 and a 1 year high of $21.45.

Nomad Foods (NYSE:NOMD – Get Rating) last announced its earnings results on Thursday, February 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $766.03 million during the quarter, compared to analyst estimates of $788.13 million. Nomad Foods had a net margin of 8.49% and a return on equity of 11.77%. On average, equities analysts predict that Nomad Foods Limited will post 1.62 earnings per share for the current year.

Nomad Foods Company Profile

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Nomad Foods Ltd. operates as a holding company, which manufactures and sells frozen foods for human consumption. The firm offers its products under the brands LUTOSA, la Cocinera, Birds Eye, Iglo, and Findus. The company was founded by Noam Gottesman and Sir Martin E. Franklin on April 1, 2014 and is headquartered in Middlesex, the United Kingdom.