M&T Bank Corp Purchases 7,890 Shares of Nomad Foods Limited (NYSE:NOMD)

M&T Bank Corp grew its position in Nomad Foods Limited (NYSE:NOMD) by 30.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,987 shares of the company’s stock after purchasing an additional 7,890 shares during the quarter. M&T Bank Corp’s holdings in Nomad Foods were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC boosted its position in shares of Nomad Foods by 117.5% during the fourth quarter. Lazard Asset Management LLC now owns 1,897 shares of the company’s stock worth $32,000 after acquiring an additional 1,025 shares during the last quarter. Ronald Blue Trust Inc. boosted its position in shares of Nomad Foods by 61.6% during the first quarter. Ronald Blue Trust Inc. now owns 2,588 shares of the company’s stock worth $45,000 after acquiring an additional 987 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Nomad Foods during the third quarter worth $66,000. Mendota Financial Group LLC bought a new position in shares of Nomad Foods during the first quarter worth $91,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Nomad Foods during the fourth quarter worth $132,000. 74.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NOMD shares. StockNews.com upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Nomad Foods from $21.00 to $24.00 in a research report on Thursday, May 11th. Barclays increased their price objective on shares of Nomad Foods from $21.00 to $22.00 in a research report on Friday, May 12th. Finally, Citigroup lowered their price objective on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Nomad Foods Trading Down 3.0 %

Shares of NOMD opened at $17.79 on Friday. Nomad Foods Limited has a twelve month low of $12.50 and a twelve month high of $19.76. The company has a market cap of $3.10 billion, a P/E ratio of 14.23 and a beta of 0.74. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The company’s fifty day simple moving average is $17.85 and its 200-day simple moving average is $18.02.

Nomad Foods (NYSE:NOMD) last announced its earnings results on Wednesday, August 9th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Nomad Foods had a net margin of 6.88% and a return on equity of 11.21%. The business had revenue of $811.11 million for the quarter, compared to the consensus estimate of $815.57 million. As a group, analysts expect that Nomad Foods Limited will post 1.71 EPS for the current year.

Nomad Foods Profile

Nomad Foods Limited manufactures, markets, and distributes a range of frozen food products in the United Kingdom, Italy, Germany, France, Sweden, Austria, Norway, Spain, Serbia, Croatia, Switzerland, and rest of Europe. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready to cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.