Victory Capital Management Inc. Raises Stake in Nomad Foods Limited (NOMD)
Victory Capital Management Inc. increased its stake in Nomad Foods Limited (NYSE:NOMD) by 296.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,206,030 shares of the company’s stock after buying an additional 2,397,440 shares during the period. Victory Capital Management Inc. owned 1.80% of Nomad Foods Limited worth $45,237,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Boston Partners boosted its stake in shares of Nomad Foods Limited by 26.2% in the second quarter. Boston Partners now owns 6,400,906 shares of the company’s stock valued at $90,317,000 after buying an additional 1,329,198 shares in the last quarter. Pioneer Investment Management Inc. acquired a new position in shares of Nomad Foods Limited during the second quarter valued at $12,215,000. Kohlberg Kravis Roberts & Co. L.P. acquired a new position in shares of Nomad Foods Limited during the first quarter valued at $9,790,000. First Manhattan Co. acquired a new position in shares of Nomad Foods Limited during the second quarter valued at $7,475,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Nomad Foods Limited by 61.2% in the second quarter. Russell Investments Group Ltd. now owns 1,282,736 shares of the company’s stock valued at $18,097,000 after buying an additional 487,240 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.
Nomad Foods Limited (NYSE NOMD) opened at 15.20 on Wednesday. Nomad Foods Limited has a 52 week low of $9.00 and a 52 week high of $15.37. The stock’s 50 day moving average is $14.41 and its 200 day moving average is $12.73. The stock has a market cap of $2.62 billion and a PE ratio of 34.39.
Nomad Foods Limited (NYSE:NOMD) last issued its earnings results on Friday, August 25th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. The company had revenue of $458.10 million for the quarter, compared to analyst estimates of $459.51 million. Nomad Foods Limited had a net margin of 3.56% and a return on equity of 7.93%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. Analysts predict that Nomad Foods Limited will post $1.07 EPS for the current year.
Nomad Foods Limited announced that its Board of Directors has approved a stock repurchase program on Monday, June 12th that authorizes the company to buyback $105.10 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through a private placement purchase. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Several research analysts have recently weighed in on NOMD shares. ValuEngine cut shares of Nomad Foods Limited from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Nomad Foods Limited from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, June 7th. Finally, UBS AG reiterated a “buy” rating and set a $17.00 price target on shares of Nomad Foods Limited in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $15.25.
About Nomad Foods Limited
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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