California Public Employees Retirement System boosted its position in shares of Nomad Foods Limited (NYSE:NOMD – Get Rating) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 357,308 shares of the company’s stock after buying an additional 2,954 shares during the period. California Public Employees Retirement System owned 0.21% of Nomad Foods worth $6,160,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of NOMD. Wellington Management Group LLP increased its holdings in shares of Nomad Foods by 10.7% in the first quarter. Wellington Management Group LLP now owns 15,574,393 shares of the company’s stock valued at $351,670,000 after purchasing an additional 1,501,225 shares during the period. State Street Corp increased its holdings in shares of Nomad Foods by 595.3% in the first quarter. State Street Corp now owns 876,307 shares of the company’s stock valued at $19,787,000 after purchasing an additional 750,281 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in shares of Nomad Foods in the fourth quarter valued at approximately $12,179,000. Millennium Management LLC increased its holdings in shares of Nomad Foods by 369.9% in the second quarter. Millennium Management LLC now owns 853,501 shares of the company’s stock valued at $17,061,000 after purchasing an additional 671,874 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Nomad Foods by 338.8% in the third quarter. Marshall Wace LLP now owns 441,604 shares of the company’s stock valued at $6,270,000 after purchasing an additional 340,956 shares during the period. Institutional investors and hedge funds own 78.54% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on NOMD shares. Credit Suisse Group restated a “neutral” rating and issued a $20.00 price target on shares of Nomad Foods in a research note on Monday, February 27th. StockNews.com downgraded Nomad Foods from a “buy” rating to a “hold” rating in a research note on Sunday. The Goldman Sachs Group upgraded Nomad Foods from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Sunday, February 26th. Barclays lifted their price target on Nomad Foods from $21.00 to $22.00 in a research note on Friday, May 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Nomad Foods from $21.00 to $24.00 in a research note on Thursday, May 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Nomad Foods presently has a consensus rating of “Moderate Buy” and an average target price of $22.20.
Nomad Foods Stock Down 1.4 %
Nomad Foods (NYSE:NOMD – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Nomad Foods had a return on equity of 11.63% and a net margin of 7.87%. The company had revenue of $766.03 million during the quarter, compared to analyst estimates of $788.13 million. Analysts anticipate that Nomad Foods Limited will post 1.71 EPS for the current fiscal year.
About Nomad Foods
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.
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