Nomad Foods Limited (NOMD) Stake Decreased by Rivulet Capital LLC
Rivulet Capital LLC decreased its position in shares of Nomad Foods Limited (NYSE:NOMD) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,978,197 shares of the company’s stock after selling 134,500 shares during the quarter. Nomad Foods Limited makes up about 9.2% of Rivulet Capital LLC’s portfolio, making the stock its 5th biggest holding. Rivulet Capital LLC owned approximately 2.23% of Nomad Foods Limited worth $56,132,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Legato Capital Management LLC acquired a new position in shares of Nomad Foods Limited during the 2nd quarter valued at about $2,552,000. Russell Investments Group Ltd. boosted its position in shares of Nomad Foods Limited by 61.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,282,736 shares of the company’s stock valued at $18,097,000 after acquiring an additional 487,240 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Nomad Foods Limited by 296.5% during the 2nd quarter. Victory Capital Management Inc. now owns 3,206,030 shares of the company’s stock valued at $45,237,000 after acquiring an additional 2,397,440 shares during the last quarter. Pioneer Investment Management Inc. acquired a new position in shares of Nomad Foods Limited during the 2nd quarter valued at about $12,215,000. Finally, First Manhattan Co. acquired a new position in shares of Nomad Foods Limited during the 2nd quarter valued at about $7,475,000. 77.79% of the stock is currently owned by hedge funds and other institutional investors.
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Nomad Foods Limited (NYSE NOMD) traded down 0.47% on Friday, reaching $14.94. 865,286 shares of the company’s stock were exchanged. The company has a market capitalization of $2.57 billion and a PE ratio of 33.13. The company has a 50 day moving average price of $14.76 and a 200-day moving average price of $13.26. Nomad Foods Limited has a 1-year low of $9.00 and a 1-year high of $15.49.
Nomad Foods Limited (NYSE:NOMD) last posted its quarterly earnings results on Friday, August 25th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. The company had revenue of $458.10 million during the quarter, compared to analysts’ expectations of $459.51 million. Nomad Foods Limited had a return on equity of 7.93% and a net margin of 3.56%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. On average, equities research analysts anticipate that Nomad Foods Limited will post $1.11 earnings per share for the current year.
Nomad Foods Limited announced that its board has approved a stock repurchase plan on Monday, June 12th that allows the company to repurchase $105.10 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through a private placement purchase. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
NOMD has been the topic of several recent research reports. Zacks Investment Research cut shares of Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 15th. UBS AG reaffirmed a “buy” rating and issued a $17.00 target price on shares of Nomad Foods Limited in a research report on Tuesday, June 13th. Finally, ValuEngine cut shares of Nomad Foods Limited from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $15.25.
Nomad Foods Limited Company Profile
Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The companys frozen food products include fish, vegetables, poultry products, and ready meals. It sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Findus, and Iglo brands.
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