Gabelli Funds LLC Purchases 1,000 Shares of Nomad Foods Ltd (NYSE:NOMD)

Gabelli Funds LLC grew its position in shares of Nomad Foods Ltd (NYSE:NOMD) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,000 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Gabelli Funds LLC’s holdings in Nomad Foods were worth $1,640,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in Nomad Foods by 25.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 16,897,346 shares of the company’s stock worth $360,927,000 after purchasing an additional 3,375,054 shares during the last quarter. Investec Asset Management LTD increased its holdings in shares of Nomad Foods by 14.8% in the second quarter. Investec Asset Management LTD now owns 7,313,011 shares of the company’s stock worth $156,206,000 after buying an additional 943,564 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Nomad Foods by 15.4% in the second quarter. Victory Capital Management Inc. now owns 4,775,697 shares of the company’s stock worth $102,009,000 after buying an additional 638,663 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Nomad Foods by 3.1% in the second quarter. Wells Fargo & Company MN now owns 4,113,674 shares of the company’s stock worth $87,868,000 after buying an additional 125,484 shares during the period. Finally, Waddell & Reed Financial Inc. increased its holdings in shares of Nomad Foods by 74.7% in the second quarter. Waddell & Reed Financial Inc. now owns 3,536,241 shares of the company’s stock worth $75,534,000 after buying an additional 1,511,675 shares during the period. 77.95% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently commented on the company. ValuEngine downgraded Nomad Foods from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays set a $25.00 price objective on Nomad Foods and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Zacks Investment Research downgraded Nomad Foods from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $24.83.

Shares of NOMD traded up $0.53 during trading hours on Friday, hitting $20.33. The company had a trading volume of 1,517,494 shares, compared to its average volume of 1,047,733. The firm has a market cap of $3.80 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.58 and a beta of 1.00. The stock’s 50 day moving average price is $19.91 and its 200 day moving average price is $20.95. The company has a quick ratio of 1.20, a current ratio of 1.64 and a debt-to-equity ratio of 0.74. Nomad Foods Ltd has a 52-week low of $15.87 and a 52-week high of $23.06.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Nomad Foods had a return on equity of 9.63% and a net margin of 6.35%. The firm had revenue of $540.00 million for the quarter, compared to the consensus estimate of $543.51 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, research analysts expect that Nomad Foods Ltd will post 1.37 EPS for the current fiscal year.

Nomad Foods Profile

Nomad Foods Limited, together with its subsidiaries, produces, markets, and distributes frozen foods in the United Kingdom, Italy, Germany, Sweden, France, Norway, Austria, Spain, and rest of 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.

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Institutional Ownership by Quarter for Nomad Foods (NYSE:NOMD)

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