Gabelli Funds LLC reduced its stake in Nomad Foods Limited (NYSE:NOMD – Get Rating) by 21.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,065 shares of the company’s stock after selling 41,000 shares during the quarter. Gabelli Funds LLC owned about 0.09% of Nomad Foods worth $2,622,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NOMD. Citigroup Inc. lifted its stake in Nomad Foods by 172.4% in the first quarter. Citigroup Inc. now owns 15,513 shares of the company’s stock valued at $350,000 after buying an additional 9,819 shares during the period. BlackRock Inc. lifted its stake in Nomad Foods by 36.2% in the first quarter. BlackRock Inc. now owns 106,208 shares of the company’s stock valued at $2,399,000 after buying an additional 28,220 shares during the period. Vontobel Holding Ltd. lifted its stake in 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 buying an additional 7,585 shares during the period. Allianz Asset Management GmbH lifted its stake in 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 buying an additional 8,007 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Nomad Foods by 1.8% during the first quarter. Vanguard Group Inc. now owns 110,864 shares of the company’s stock valued at $2,503,000 after acquiring an additional 1,911 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.
Nomad Foods Trading Up 0.8 %
Shares of Nomad Foods stock opened at $17.82 on Friday. The stock has a fifty day simple moving average of $18.36 and a 200 day simple moving average of $17.80. Nomad Foods Limited has a 12-month low of $12.50 and a 12-month high of $20.32. The company has a market capitalization of $3.11 billion, a P/E ratio of 12.73 and a beta of 0.74. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81.
Analysts Set New Price Targets
Several equities research analysts have recently commented on NOMD shares. Credit Suisse Group restated a “neutral” rating and set a $20.00 price objective on shares of Nomad Foods in a report on Monday, February 27th. Barclays boosted their price objective on Nomad Foods from $21.00 to $22.00 in a report on Friday, May 12th. 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 report on Sunday, February 26th. Deutsche Bank Aktiengesellschaft upped their price target on Nomad Foods from $21.00 to $24.00 in a report on Thursday, May 11th. Finally, StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.20.
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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