JPMorgan Chase & Co. Has $18.85 Million Stake in Nomad Foods Ltd (NOMD)

JPMorgan Chase & Co. lessened its position in shares of Nomad Foods Ltd (NYSE:NOMD) by 10.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 930,523 shares of the company’s stock after selling 105,485 shares during the quarter. JPMorgan Chase & Co. owned about 0.53% of Nomad Foods worth $18,852,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NOMD. Carlson Capital Management purchased a new stake in Nomad Foods in the third quarter valued at approximately $203,000. Raymond James Trust N.A. purchased a new stake in Nomad Foods in the third quarter valued at approximately $206,000. Keybank National Association OH acquired a new position in shares of Nomad Foods in the third quarter worth $287,000. Commonwealth Bank of Australia acquired a new position in shares of Nomad Foods in the third quarter worth $309,000. Finally, Nippon Life Global Investors Americas Inc. acquired a new position in shares of Nomad Foods in the third quarter worth $340,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have commented on NOMD. Zacks Investment Research upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, January 22nd. TheStreet upgraded shares of Nomad Foods from a “d” rating to a “c” rating in a research note on Tuesday, October 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $23.00.

NYSE:NOMD opened at $18.44 on Monday. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.10 and a beta of 1.28. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.10 and a quick ratio of 0.60. Nomad Foods Ltd has a 52 week low of $15.27 and a 52 week high of $21.45.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business had revenue of $531.00 million during the quarter, compared to the consensus estimate of $514.37 million. Nomad Foods had a net margin of 7.66% and a return on equity of 10.14%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, sell-side analysts anticipate that Nomad Foods Ltd will post 1.35 earnings per share for the current fiscal year.

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Nomad Foods Company 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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