Envestnet Asset Management Inc. Raises Holdings in Nomad Foods Limited (NYSE:NOMD)

Envestnet Asset Management Inc. raised its position in Nomad Foods Limited (NYSE:NOMD – Get Rating) by 15.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 97,117 shares of the company’s stock after purchasing an additional 12,934 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Nomad Foods worth $1,674,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOMD. Citigroup Inc. lifted its stake in shares of Nomad Foods by 172.4% in the first quarter. Citigroup Inc. now owns 15,513 shares of the company’s stock worth $350,000 after buying an additional 9,819 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Nomad Foods by 36.2% during the 1st quarter. BlackRock Inc. now owns 106,208 shares of the company’s stock worth $2,399,000 after purchasing an additional 28,220 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Nomad Foods by 10.3% in the first quarter. Vontobel Holding Ltd. now owns 80,881 shares of the company’s stock valued at $1,816,000 after purchasing an additional 7,585 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Nomad Foods by 2.2% in the first quarter. Allianz Asset Management GmbH now owns 378,373 shares of the company’s stock valued at $8,544,000 after purchasing an additional 8,007 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Nomad Foods by 1.8% during the first quarter. Vanguard Group Inc. now owns 110,864 shares of the company’s stock worth $2,503,000 after buying an additional 1,911 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Wall Street Analyst Weigh In

NOMD has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on Nomad Foods from $21.00 to $24.00 in a research note on Thursday, May 11th. Credit Suisse Group reissued a “neutral” rating and issued a $20.00 price target on shares of Nomad Foods in a research note on Monday, February 27th. Barclays lifted their price target on shares of Nomad Foods from $21.00 to $22.00 in a research report on Friday, May 12th. StockNews.com lowered Nomad Foods from a “buy” rating to a “hold” rating in a research report on Sunday, May 14th. Finally, The Goldman Sachs Group raised 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Nomad Foods Trading Up 1.0 %

NOMD opened at $17.80 on Monday. Nomad Foods Limited has a 52 week low of $12.50 and a 52 week high of $21.45. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $18.55 and a 200-day simple moving average of $17.68. The firm has a market cap of $3.10 billion, a P/E ratio of 12.71 and a beta of 0.74.

Nomad Foods (NYSE:NOMD – Get Rating) last released its earnings results on Wednesday, May 10th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.08. The company had revenue of $831.55 million during the quarter, compared to the consensus estimate of $811.47 million. Nomad Foods had a return on equity of 11.63% and a net margin of 7.87%. On average, equities analysts expect that Nomad Foods Limited will post 1.71 earnings per share for the current year.

Nomad Foods Profile

(Get Rating)

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.