Corsair Capital Management L.P. Sells 56,961 Shares of Nomad Foods Ltd (NOMD)

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.

Shares of NOMD opened at $19.04 on Friday. Nomad Foods Ltd has a twelve month low of $15.27 and a twelve month high of $21.45. The firm has a market capitalization of $3.39 billion, a PE ratio of 16.85, a PEG ratio of 1.32 and a beta of 0.90. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.88.

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.

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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.

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

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