Russell Investments Group Ltd. Raises Holdings in Nomad Foods Limited (NYSE:NOMD)

Posted by Defense World Staff on May 14th, 2023

Russell Investments Group Ltd. grew its position in Nomad Foods Limited (NYSE:NOMD – Get Rating) by 22.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 461,883 shares of the company’s stock after buying an additional 84,192 shares during the quarter. Russell Investments Group Ltd. owned 0.27% of Nomad Foods worth $7,963,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Nomad Foods in the 3rd quarter worth $66,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Nomad Foods in the 4th quarter worth $132,000. Ergoteles LLC purchased a new stake in shares of Nomad Foods in the 3rd quarter worth $150,000. Bridgefront Capital LLC purchased a new stake in shares of Nomad Foods in the 3rd quarter worth $158,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Nomad Foods in the 2nd quarter worth $229,000. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

Nomad Foods Trading Down 2.4 %

Shares of NYSE:NOMD opened at $18.24 on Friday. The business’s 50-day moving average is $18.52 and its 200 day moving average is $17.55. Nomad Foods Limited has a 1 year low of $12.50 and a 1 year high of $21.45. The firm has a market capitalization of $3.18 billion, a P/E ratio of 12.16 and a beta of 0.74. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.19 and a quick ratio of 0.70.

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 the consensus estimate of $0.37 by ($0.03). Nomad Foods had a net margin of 8.49% and a return on equity of 11.77%. The business had revenue of $766.03 million for the quarter, compared to analyst estimates of $788.13 million. On average, research analysts predict that Nomad Foods Limited will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays upped their price objective on Nomad Foods from $21.00 to $22.00 in a research note on Friday. The Goldman Sachs Group upgraded Nomad Foods from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Sunday, February 26th. Deutsche Bank Aktiengesellschaft upped their price objective on Nomad Foods from $21.00 to $24.00 in a research note on Thursday. Credit Suisse Group restated a “neutral” rating and set a $20.00 price objective on shares of Nomad Foods in a research note on Monday, February 27th. Finally, StockNews.com cut Nomad Foods from a “buy” rating to a “hold” rating in a research note on Sunday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

About Nomad Foods

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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.

Russell Investments Group Ltd. Raises Holdings in Nomad Foods Limited (NYSE:NOMD)

Nomad Foods Trading Down 2.4 %

Wall Street Analyst Weigh In

About Nomad Foods

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