Nomad Foods Limited (NOMD) Shares Bought by Systematic Financial Management LP
Systematic Financial Management LP boosted its position in shares of Nomad Foods Limited (NYSE:NOMD) by 549.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,566,683 shares of the company’s stock after acquiring an additional 1,325,628 shares during the period. Systematic Financial Management LP owned 0.88% of Nomad Foods Limited worth $22,106,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in Nomad Foods Limited by 2.4% during the 2nd quarter. Wells Fargo & Company MN now owns 3,116,971 shares of the company’s stock worth $43,980,000 after acquiring an additional 72,688 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Nomad Foods Limited during the 2nd quarter worth $1,544,000. Sphera Funds Management LTD. acquired a new position in Nomad Foods Limited during the 2nd quarter worth $3,782,000. JPMorgan Chase & Co. acquired a new position in Nomad Foods Limited during the 2nd quarter worth $577,000. Finally, Oppenheimer Asset Management Inc. lifted its position in Nomad Foods Limited by 133.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 19,119 shares of the company’s stock worth $269,000 after acquiring an additional 10,917 shares during the last quarter. 77.79% of the stock is owned by hedge funds and other institutional investors.
Nomad Foods Limited (NYSE:NOMD) traded up 0.801% on Friday, hitting $15.221. 396,719 shares of the stock traded hands. Nomad Foods Limited has a 52 week low of $9.00 and a 52 week high of $15.37. The stock has a market cap of $2.62 billion and a price-to-earnings ratio of 34.593. The firm’s 50 day moving average is $14.63 and its 200 day moving average is $12.99.
Nomad Foods Limited (NYSE:NOMD) last announced its quarterly earnings results on Friday, August 25th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The firm had revenue of $458.10 million during the quarter, compared to analysts’ expectations of $459.51 million. Nomad Foods Limited had a net margin of 3.56% and a return on equity of 7.93%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. Equities analysts anticipate that Nomad Foods Limited will post $1.10 earnings per share for the current year.
Nomad Foods Limited announced that its board has initiated a share repurchase program on Monday, June 12th that authorizes the company to buyback $105.10 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through a private placement purchase. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
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A number of research firms have weighed in on NOMD. ValuEngine lowered shares of Nomad Foods Limited from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. UBS AG restated a “buy” rating and set a $16.00 price objective (up previously from $14.00) on shares of Nomad Foods Limited in a report on Tuesday, May 30th. Finally, Zacks Investment Research upgraded shares of Nomad Foods Limited from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Wednesday, June 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Nomad Foods Limited has a consensus rating of “Buy” and a consensus target price of $15.25.
About Nomad Foods Limited
Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The companys frozen food products include fish, vegetables, poultry products, and ready meals. It sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Findus, and Iglo brands.
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