First Manhattan Co. reduced its position in shares of Nomad Foods Ltd (NYSE:NOMD) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 113,374 shares of the company’s stock after selling 12,600 shares during the quarter. First Manhattan Co. owned about 0.07% of Nomad Foods worth $2,296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fort L.P. bought a new position in Nomad Foods during the 2nd quarter valued at $126,000. Toronto Dominion Bank bought a new position in Nomad Foods during the 2nd quarter valued at $158,000. First Mercantile Trust Co. boosted its stake in Nomad Foods by 48.4% during the 2nd quarter. First Mercantile Trust Co. now owns 11,190 shares of the company’s stock valued at $215,000 after purchasing an additional 3,650 shares in the last quarter. Sanders Morris Harris LLC bought a new position in Nomad Foods during the 3rd quarter valued at $227,000. Finally, Private Advisor Group LLC bought a new position in Nomad Foods during the 2nd quarter valued at $233,000. 73.14% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on the company. Zacks Investment Research raised Nomad Foods from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Barclays assumed coverage on Nomad Foods in a research note on Friday, October 5th. They set an “overweight” rating for the company. Wells Fargo & Co assumed coverage on Nomad Foods in a research note on Thursday, June 28th. They set an “outperform” rating and a $23.00 price target for the company. UBS Group increased their price target on Nomad Foods from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, Credit Suisse Group assumed coverage on Nomad Foods in a research note on Tuesday, July 17th. They set an “outperform” rating and a $24.00 price target for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Nomad Foods presently has a consensus rating of “Buy” and a consensus target price of $22.17.

NOMD opened at $20.20 on Friday. The firm has a market cap of $3.55 billion, a PE ratio of 17.88, a P/E/G ratio of 1.01 and a beta of 0.70. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.36 and a quick ratio of 0.90. Nomad Foods Ltd has a fifty-two week low of $14.32 and a fifty-two week high of $21.15.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The business had revenue of $488.20 million during the quarter, compared to analyst estimates of $482.81 million. Nomad Foods had a return on equity of 10.44% and a net margin of 8.19%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.23 EPS. Equities research analysts forecast that Nomad Foods Ltd will post 1.35 earnings per share for the current fiscal year.

Nomad Foods Profile

Nomad Foods Limited manufactures and distributes frozen foods in Western Europe. The company offers fish products, including fish fingers, coated fish, and natural fish; vegetables, such as peas and spinach; and poultry and meat products comprising nuggets, grills, and burgers. It also provides meals products that include ready to cook noodles, pasta, lasagne, pancakes, and other ready-made meals; and other products, such as soups, pizzas, and bakery goods.

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Institutional Ownership by Quarter for Nomad Foods (NYSE:NOMD)

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