Y Intercept Hong Kong Ltd Purchases New Stake in Nomad Foods Limited $NOMD

Y Intercept Hong Kong Ltd purchased a new stake in shares of Nomad Foods Limited (NYSE:NOMD) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 136,285 shares of the company’s stock, valued at approximately $1,792,000.

Other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its stake in shares of Nomad Foods by 3.5% during the second quarter. Vontobel Holding Ltd. now owns 20,417 shares of the company’s stock valued at $347,000 after buying an additional 688 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Nomad Foods by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,048 shares of the company’s stock worth $511,000 after acquiring an additional 690 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Nomad Foods by 1.9% during the second quarter. Tidal Investments LLC now owns 38,037 shares of the company’s stock valued at $646,000 after acquiring an additional 726 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Nomad Foods by 0.4% in the 2nd quarter. California Public Employees Retirement System now owns 268,627 shares of the company’s stock worth $4,564,000 after purchasing an additional 1,044 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after acquiring an additional 1,240 shares during the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOMD has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a research note on Wednesday. Zacks Research upgraded 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 set a $18.00 price objective on shares of Nomad Foods in a report on Monday, November 10th. Finally, Mizuho dropped their target price on shares of Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, January 8th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Nomad Foods Price Performance

Nomad Foods stock opened at $12.55 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $12.22 and a 200-day simple moving average of $13.46. Nomad Foods Limited has a 52-week low of $11.04 and a 52-week high of $20.81. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 8.71 and a beta of 0.71.

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

Nomad Foods Profile

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.