Laurion Capital Management LP Takes Position in Nomad Foods Limited (NOMD)
Laurion Capital Management LP purchased a new position in Nomad Foods Limited (NYSE:NOMD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,804,829 shares of the company’s stock, valued at approximately $25,466,000. Laurion Capital Management LP owned 1.01% of Nomad Foods Limited at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Boston Partners boosted its holdings in shares of Nomad Foods Limited by 26.2% in the second quarter. Boston Partners now owns 6,400,906 shares of the company’s stock worth $90,317,000 after acquiring an additional 1,329,198 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Nomad Foods Limited by 296.5% in the second quarter. Victory Capital Management Inc. now owns 3,206,030 shares of the company’s stock worth $45,237,000 after acquiring an additional 2,397,440 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Nomad Foods Limited by 2.4% in the second 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 period. Systematic Financial Management LP boosted its holdings in shares of Nomad Foods Limited by 549.9% in the second quarter. Systematic Financial Management LP now owns 1,566,683 shares of the company’s stock worth $22,106,000 after acquiring an additional 1,325,628 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Nomad Foods Limited by 61.2% in the second quarter. Russell Investments Group Ltd. now owns 1,282,736 shares of the company’s stock worth $18,097,000 after acquiring an additional 487,240 shares during the period. 77.79% of the stock is owned by hedge funds and other institutional investors.
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Nomad Foods Limited (NYSE NOMD) traded down 0.07% during trading on Friday, hitting $14.97. The stock had a trading volume of 769,036 shares. Nomad Foods Limited has a 52-week low of $9.00 and a 52-week high of $15.49. The company has a market cap of $2.58 billion and a price-to-earnings ratio of 33.34. The company has a 50-day moving average price of $14.72 and a 200-day moving average price of $13.16.
Nomad Foods Limited (NYSE:NOMD) last issued its quarterly earnings data on Friday, August 25th. The company reported $0.25 earnings per share (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 the consensus estimate 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 in the previous year, the firm posted $0.19 EPS. Equities research analysts forecast that Nomad Foods Limited will post $1.10 EPS for the current year.
Nomad Foods Limited declared that its Board of Directors has authorized a stock repurchase program on Monday, June 12th that permits the company to repurchase $105.10 million in shares. This repurchase authorization permits the company to buy shares of its stock through a private placement purchase. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
A number of research firms have recently commented on NOMD. Zacks Investment Research lowered Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 15th. UBS AG reaffirmed a “buy” rating and issued a $17.00 price target on shares of Nomad Foods Limited in a report on Tuesday, June 13th. Finally, ValuEngine lowered Nomad Foods Limited from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $15.25.
Nomad Foods Limited Profile
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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