Bank of New York Mellon Corp Trims Stock Holdings in Nomad Foods Limited (NYSE:NOMD)

Bank of New York Mellon Corp lessened its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 9.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 852,488 shares of the company’s stock after selling 91,646 shares during the quarter. Bank of New York Mellon Corp’s holdings in Nomad Foods were worth $14,049,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NOMD. Blue Trust Inc. boosted its position in shares of Nomad Foods by 133.2% during the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after purchasing an additional 934 shares during the period. Gabelli Funds LLC boosted its position in shares of Nomad Foods by 1.2% during the first quarter. Gabelli Funds LLC now owns 157,982 shares of the company’s stock worth $3,090,000 after buying an additional 1,917 shares during the period. Sciencast Management LP grew its stake in shares of Nomad Foods by 12.5% in the first quarter. Sciencast Management LP now owns 17,488 shares of the company’s stock valued at $342,000 after buying an additional 1,950 shares in the last quarter. Ancora Advisors LLC raised its holdings in shares of Nomad Foods by 0.5% in the 1st quarter. Ancora Advisors LLC now owns 549,825 shares of the company’s stock valued at $10,755,000 after buying an additional 2,555 shares during the period. Finally, SYSTM Wealth Solutions LLC lifted its stake in Nomad Foods by 19.6% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 15,984 shares of the company’s stock worth $313,000 after acquiring an additional 2,617 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Price Performance

Shares of NOMD opened at $19.00 on Friday. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 15.83 and a beta of 0.78. The firm’s fifty day simple moving average is $18.10 and its 200-day simple moving average is $18.29. Nomad Foods Limited has a twelve month low of $13.56 and a twelve month high of $20.05. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The company had revenue of $810.64 million for the quarter, compared to analysts’ expectations of $822.21 million. Nomad Foods had a return on equity of 9.78% and a net margin of 6.79%. Equities analysts forecast that Nomad Foods Limited will post 1.94 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Saturday, August 10th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, August 9th. Nomad Foods’s payout ratio is 50.00%.

Analysts Set New Price Targets

NOMD has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Nomad Foods from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. StockNews.com downgraded shares of Nomad Foods from a “buy” rating to a “hold” rating in a research note on Sunday, September 1st. Finally, Barclays reduced their target price on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, July 19th.

Nomad Foods Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.