Swedbank AB Lowers Stake in Nomad Foods Limited (NYSE:NOMD)

Swedbank AB lessened its position in Nomad Foods Limited (NYSE:NOMD) by 43.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,000 shares of the company’s stock after selling 202,000 shares during the period. Swedbank AB’s holdings in Nomad Foods were worth $5,089,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Quadrature Capital Ltd purchased a new position in shares of Nomad Foods during the 4th quarter worth $291,000. Miller Howard Investments Inc. NY acquired a new position in Nomad Foods in the first quarter valued at $525,000. Atlas Capital Advisors LLC purchased a new position in Nomad Foods during the first quarter worth about $201,000. Applied Fundamental Research LLC boosted its stake in Nomad Foods by 6.0% in the 1st quarter. Applied Fundamental Research LLC now owns 843,305 shares of the company’s stock worth $16,495,000 after buying an additional 47,476 shares during the last quarter. Finally, Oak Ridge Investments LLC grew its holdings in Nomad Foods by 8.0% in the 1st quarter. Oak Ridge Investments LLC now owns 305,432 shares of the company’s stock valued at $5,974,000 after buying an additional 22,730 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of Nomad Foods from a “buy” rating to a “hold” rating in a report on Thursday. Barclays cut their price target on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Nomad Foods from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 8th.

Nomad Foods Stock Performance

NYSE NOMD opened at $18.02 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.73. Nomad Foods Limited has a 1-year low of $13.56 and a 1-year high of $20.05. The firm has a market capitalization of $2.94 billion, a P/E ratio of 15.02 and a beta of 0.78. The business’s 50-day simple moving average is $18.65 and its 200-day simple moving average is $18.15.

Nomad Foods (NYSE:NOMD) last announced 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. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. The firm had revenue of $810.64 million for the quarter, compared to analysts’ expectations of $822.21 million. Equities analysts predict that Nomad Foods Limited will post 1.96 EPS for the current year.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Saturday, August 10th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 annualized dividend and a yield of 3.33%. Nomad Foods’s dividend payout ratio is currently 50.00%.

Nomad Foods Company 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.