Corsair Capital Management L.P. decreased its holdings in shares of Nomad Foods Ltd (NYSE:NOMD) by 10.9% during the third quarter, HoldingsChannel reports. The firm owned 463,237 shares of the company’s stock after selling 56,961 shares during the period. Nomad Foods accounts for about 2.2% of Corsair Capital Management L.P.’s portfolio, making the stock its 22nd largest position. Corsair Capital Management L.P.’s holdings in Nomad Foods were worth $9,385,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in NOMD. Fort L.P. purchased a new stake in Nomad Foods during the second quarter valued at $126,000. Toronto Dominion Bank purchased a new stake in Nomad Foods during the second quarter valued at $158,000. Carlson Capital Management purchased a new stake in Nomad Foods during the third quarter valued at $203,000. Raymond James Trust N.A. purchased a new stake in Nomad Foods during the third quarter valued at $206,000. Finally, Sanders Morris Harris LLC purchased a new stake in Nomad Foods during the third quarter valued at $227,000. 74.06% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on NOMD. Zacks Investment Research raised shares of Nomad Foods from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. TheStreet raised shares of Nomad Foods from a “d” rating to a “c” rating in a research note on Tuesday, October 16th. Barclays started coverage on shares of Nomad Foods in a research note on Friday, October 5th. They issued an “overweight” rating on the stock. UBS Group increased their target price on shares of Nomad Foods from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, Wells Fargo & Co increased their target price on shares of Nomad Foods from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Nomad Foods presently has a consensus rating of “Buy” and a consensus price target of $23.75.
Nomad Foods (NYSE:NOMD) last announced its earnings results on Thursday, November 8th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Nomad Foods had a net margin of 7.66% and a return on equity of 10.14%. The business had revenue of $531.00 million for the quarter, compared to the consensus estimate of $514.37 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities research analysts predict that Nomad Foods Ltd will post 1.35 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “Corsair Capital Management L.P. Sells 56,961 Shares of Nomad Foods Ltd (NOMD)” was originally posted by Markets Daily and is owned by of Markets Daily. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://www.themarketsdaily.com/2018/12/07/corsair-capital-management-l-p-sells-56961-shares-of-nomad-foods-ltd-nomd.html.
About Nomad Foods
Nomad Foods Limited manufactures and distributes frozen foods in Western 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. It also provides meals products that include ready to cook noodles, pasta, lasagne, pancakes, and other ready-made meals; and other products, such as soups, pizzas, and bakery goods.
Featured Story: Understanding Market Liquidity
Want to see what other hedge funds are holding NOMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nomad Foods Ltd (NYSE:NOMD).
Receive News & Ratings for Nomad Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nomad Foods and related companies with MarketBeat.com's FREE daily email newsletter.