Nomad Foods Ltd (NOMD) Shares Sold by Perpetual Ltd

Perpetual Ltd lessened its stake in Nomad Foods Ltd (NYSE:NOMD) by 20.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,567,397 shares of the company’s stock after selling 408,362 shares during the period. Nomad Foods comprises approximately 4.3% of Perpetual Ltd’s investment portfolio, making the stock its 3rd largest holding. Perpetual Ltd’s holdings in Nomad Foods were worth $31,755,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Fort L.P. purchased a new position in shares of Nomad Foods during the 2nd quarter valued at approximately $126,000. Toronto Dominion Bank purchased a new position in shares of Nomad Foods during the 2nd quarter valued at approximately $158,000. Carlson Capital Management purchased a new position in shares of Nomad Foods during the 3rd quarter valued at approximately $203,000. First Mercantile Trust Co. lifted its position in shares of 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 buying an additional 3,650 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new position in shares of Nomad Foods during the 3rd quarter valued at approximately $227,000. Institutional investors and hedge funds own 73.18% of the company’s stock.

NYSE NOMD opened at $18.75 on Wednesday. Nomad Foods Ltd has a one year low of $14.32 and a one year high of $21.15. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.36 and a quick ratio of 0.90. The firm has a market capitalization of $3.22 billion, a P/E ratio of 16.59, a PEG ratio of 0.91 and a beta of 0.70.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings data on Thursday, August 9th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Nomad Foods had a return on equity of 10.44% and a net margin of 8.19%. The firm had revenue of $488.20 million during the quarter, compared to the consensus estimate of $482.81 million. During the same period in the prior year, the company earned $0.23 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that Nomad Foods Ltd will post 1.35 earnings per share for the current year.

NOMD has been the topic of a number of recent analyst reports. Wells Fargo & Co increased their target price on Nomad Foods from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 10th. UBS Group increased their price objective on Nomad Foods from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Barclays initiated coverage on Nomad Foods in a research note on Friday, October 5th. They issued an “overweight” rating for the company. Zacks Investment Research downgraded Nomad Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Finally, TheStreet raised Nomad Foods from a “d” rating to a “c” rating in a research note on Tuesday, October 16th. Two equities research 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 an average target price of $22.17.

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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