Renaissance Group LLC Sells 94,484 Shares of Nomad Foods Limited $NOMD

Renaissance Group LLC reduced its position in shares of Nomad Foods Limited (NYSE:NOMD) by 22.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 329,640 shares of the company’s stock after selling 94,484 shares during the period. Renaissance Group LLC’s holdings in Nomad Foods were worth $4,335,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Polaris Capital Management LLC lifted its position in shares of Nomad Foods by 138.8% in the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after purchasing an additional 2,000,400 shares during the period. Moody Aldrich Partners LLC raised its stake in Nomad Foods by 188.1% in the third quarter. Moody Aldrich Partners LLC now owns 247,558 shares of the company’s stock worth $3,255,000 after buying an additional 161,623 shares in the last quarter. Norges Bank purchased a new stake in Nomad Foods in the second quarter worth about $15,603,000. Meritage Portfolio Management bought a new stake in Nomad Foods during the 2nd quarter valued at approximately $6,599,000. Finally, ABN AMRO Bank N.V. bought a new stake in Nomad Foods during the 2nd quarter valued at approximately $6,056,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

NOMD has been the subject of a number of research analyst reports. Mizuho lowered their target price on Nomad Foods from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, January 8th. Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a report on Wednesday, January 28th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $18.00 target price on shares of Nomad Foods in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.00.

Nomad Foods Stock Up 0.4%

Shares of NYSE:NOMD opened at $12.91 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.59 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $12.29 and a two-hundred day simple moving average of $13.23. Nomad Foods Limited has a 12-month low of $11.04 and a 12-month high of $20.81. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 8.97 and a beta of 0.72.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $881.94 million for the quarter, compared to the consensus estimate of $760.75 million. Nomad Foods had a net margin of 6.56% and a return on equity of 9.73%. Nomad Foods’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, research analysts anticipate that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Wednesday, February 11th. Nomad Foods’s dividend payout ratio (DPR) is currently 47.22%.

Nomad Foods Company Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.