Fifth Third Bancorp Cuts Stock Holdings in Nomad Foods Limited (NYSE:NOMD)

Fifth Third Bancorp decreased its holdings in shares of Nomad Foods Limited (NYSE:NOMD – Get Rating) by 61.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,121 shares of the company’s stock after selling 32,132 shares during the quarter. Fifth Third Bancorp’s holdings in Nomad Foods were worth $286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Candriam S.C.A. raised its holdings in shares of Nomad Foods by 0.3% during the second quarter. Candriam S.C.A. now owns 205,531 shares of the company’s stock valued at $4,108,000 after acquiring an additional 590 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Nomad Foods in the second quarter worth $25,000. Ossiam grew its stake in shares of Nomad Foods by 3.7% in the second quarter. Ossiam now owns 37,170 shares of the company’s stock worth $743,000 after acquiring an additional 1,338 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Nomad Foods by 1.8% during the first quarter. Vanguard Group Inc. now owns 110,864 shares of the company’s stock valued at $2,503,000 after buying an additional 1,911 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in shares of Nomad Foods by 5.8% during the first quarter. Gamco Investors INC. ET AL now owns 49,034 shares of the company’s stock valued at $1,107,000 after buying an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Nomad Foods Trading Up 0.3 %

Shares of NYSE:NOMD opened at $17.16 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.15 and a quick ratio of 0.63. The business’s 50-day moving average is $16.92 and its 200 day moving average is $17.05. The firm has a market capitalization of $2.96 billion, a P/E ratio of 11.67 and a beta of 0.74. Nomad Foods Limited has a 1 year low of $12.50 and a 1 year high of $26.79.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NOMD. Credit Suisse Group cut Nomad Foods from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $20.00 in a research report on Thursday, January 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Nomad Foods from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, December 6th. StockNews.com raised Nomad Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, November 16th. Finally, The Goldman Sachs Group reduced their price objective on Nomad Foods from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, October 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nomad Foods currently has a consensus rating of “Moderate Buy” and an average price target of $24.14.

Nomad Foods Profile

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Nomad Foods Limited manufactures, markets, and distributes frozen food products in the United Kingdom, Italy, Germany, France, Sweden, Austria, Norway, 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.