Assenagon Asset Management SA reduces its equity holding in Nomad Foods Limited (NYSE:NOMD)

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Assenagon Asset Management SA reduced its position in Nomad Foods Limited (NYSE:NOMD – Get Rating) by 23.7% in the first quarter, reports HoldingsChannel.com. The fund held 93,022 shares of the company after selling 28,932 shares during the period. Assenagon Asset Management SA’s holdings in Nomad Foods were worth $2,100,000 when it was last filed with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently changed their stock holdings. Allspring Global Investments Holdings LLC purchased a new stock position in Nomad Foods during Q4, valued at approximately $251,341,000. Alliancebernstein LP increased its stake in Nomad Foods by 7.2% in the 4th quarter. Alliancebernstein LP now owns 6,672,664 shares of the company worth $169,419,000 after purchasing an additional 450,124 shares in the last quarter. Pictet Asset Management SA increased its holdings in Nomad Foods by 33.2% in the 4th quarter. Pictet Asset Management SA now owns 5,462,162 shares in the company worth $138,684,000 after purchasing an additional 1,361,379 shares in the last quarter. Brown Advisory Inc. increased its stake in Nomad Foods by 1.6% in the fourth quarter. Brown Advisory Inc. now owns 5,344,211 shares of the company worth $135,690,000 after purchasing an additional 86,041 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Nomad Foods by 18.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,527 shares of the company worth $61,305,000 after purchasing an additional 377,798 shares in the last quarter. Institutional investors hold 78.08% of the company’s shares.

Shares of Nomad Foods opened at $18.60 on Thursday. Nomad Foods Limited has a 12-month low of $17.30 and a 12-month high of $28.92. The stock’s fifty-day simple moving average is $19.88 and its 200-day simple moving average is $22.20. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt ratio of 0.94. The company has a market capitalization of $3.21 billion, a P/E ratio of 15.12 and a beta of 0.70.

Nomad Foods (NYSE:NOMD – Get Rating) last reported results on Wednesday, May 11. The company reported EPS of $0.48 for the quarter, beating analyst consensus estimates of $0.39 by $0.09. The company posted revenue of $822.35 million in the quarter, versus a consensus estimate of $772.74 million. Nomad Foods achieved a net margin of 7.16% and a return on equity of 11.55%. In the same quarter a year earlier, the company posted earnings per share of $0.56. Sell-side analysts expect Nomad Foods Limited to post 1.79 earnings per share for the current year.

NOMD has been the subject of several reports by research analysts. BTIG Research lowered its price target on Nomad Foods from $32.00 to $25.00 in a Friday, May 13 report. UBS Group took over coverage from Nomad Foods in a Wednesday, March 30 report. They issued a “buy” rating and a price target of $26.00 on the stock. Credit Suisse Group lowered its price target on Nomad Foods from $29.00 to $26.00 and set an “outperform” rating on the stock in a Tuesday, April 12 report. StockNews.com picked up coverage from Nomad Foods in a Thursday, March 31 report. They have placed a “holding” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised its price target on Nomad Foods from $25.00 to $26.00 in a Thursday, May 12 report. Two investment analysts gave the stock a hold rating and seven gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average price target of $27.25.

Nomad Foods Company Profile (Get an assessment)

Nomad Foods Limited manufactures, markets and distributes frozen food products in the UK, Italy, Germany, France, Sweden, Austria, Norway, Spain and the rest of Europe. The company offers fish products, including fish sticks, coated fish and natural fish; vegetables, such as peas and spinach; and poultry and meat products including nuggets, grills and burgers.

Further reading

Want to see which other hedge funds hold NOMD? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Nomad Foods Limited (NYSE:NOMD – Get Rating).

Institutional ownership by quarter for Nomad Foods (NYSE:NOMD)



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