Y Intercept Hong Kong Ltd Takes Position in Nomad Foods Limited $NOMD

Y Intercept Hong Kong Ltd bought a new stake in Nomad Foods Limited (NYSE:NOMD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 136,285 shares of the company’s stock, valued at approximately $1,792,000. Y Intercept Hong Kong Ltd owned about 0.09% of Nomad Foods as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NOMD. Formidable Asset Management LLC boosted its position in Nomad Foods by 36.3% during the third quarter. Formidable Asset Management LLC now owns 48,099 shares of the company’s stock worth $633,000 after purchasing an additional 12,804 shares during the period. Campbell & CO Investment Adviser LLC lifted its stake in shares of Nomad Foods by 291.7% in the third quarter. Campbell & CO Investment Adviser LLC now owns 67,037 shares of the company’s stock valued at $882,000 after buying an additional 49,921 shares during the period. Polaris Capital Management LLC grew its position in Nomad Foods by 138.8% during the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after buying an additional 2,000,400 shares in the last quarter. Kiker Wealth Management LLC lifted its holdings in shares of Nomad Foods by 48.3% during the 3rd quarter. Kiker Wealth Management LLC now owns 126,403 shares of the company’s stock worth $1,662,000 after acquiring an additional 41,164 shares during the period. Finally, Miller Howard Investments Inc. NY grew its stake in shares of Nomad Foods by 7.7% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 28,430 shares of the company’s stock valued at $374,000 after purchasing an additional 2,034 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Trading Up 2.2%

Shares of NYSE:NOMD opened at $12.55 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.59. Nomad Foods Limited has a 1 year low of $11.04 and a 1 year high of $20.81. The company has a market capitalization of $1.92 billion, a P/E ratio of 8.71 and a beta of 0.71. The business’s 50 day simple moving average is $12.22 and its 200 day simple moving average is $13.46.

Nomad Foods (NYSE:NOMD) last issued its earnings results on Thursday, November 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). Nomad Foods had a return on equity of 9.73% and a net margin of 6.56%.The business had revenue of $881.94 million for the quarter, compared to analyst estimates of $760.75 million. During the same period in the previous year, the firm posted $0.55 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. On average, research analysts anticipate that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. BTIG Research restated a “buy” rating and issued a $18.00 price target on shares of Nomad Foods in a report on Monday, November 10th. Mizuho cut their price target on shares of Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

About Nomad Foods

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.