Invenomic Capital Management LP Acquires 562,304 Shares of Nomad Foods Limited $NOMD

Invenomic Capital Management LP boosted its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 144.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 952,268 shares of the company’s stock after buying an additional 562,304 shares during the period. Invenomic Capital Management LP’s holdings in Nomad Foods were worth $12,522,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Boston Partners boosted its holdings in shares of Nomad Foods by 40.3% in the second quarter. Boston Partners now owns 14,323,433 shares of the company’s stock valued at $243,276,000 after buying an additional 4,114,150 shares during the period. Polaris Capital Management LLC lifted its position in Nomad Foods by 138.8% in the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock valued at $45,261,000 after acquiring an additional 2,000,400 shares in the last quarter. Norges Bank bought a new stake in Nomad Foods in the 2nd quarter valued at $15,603,000. Royce & Associates LP boosted its stake in Nomad Foods by 45.4% in the 3rd quarter. Royce & Associates LP now owns 2,451,806 shares of the company’s stock worth $32,241,000 after purchasing an additional 765,690 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in shares of Nomad Foods by 164.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company’s stock worth $20,312,000 after buying an additional 742,813 shares during the period. Institutional investors own 75.26% of the company’s stock.

Analyst Ratings Changes

NOMD has been the subject of a number of recent research reports. Barclays reduced their price target on Nomad Foods from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. BTIG Research decreased their target price on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Mizuho lowered their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Zacks Research downgraded shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings downgraded Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Nomad Foods currently has a consensus rating of “Hold” and a consensus target price of $13.67.

Nomad Foods Stock Performance

Shares of NOMD opened at $9.85 on Monday. The company has a market cap of $1.40 billion, a PE ratio of 9.65 and a beta of 0.74. The firm has a 50-day moving average of $11.91 and a 200-day moving average of $12.42. Nomad Foods Limited has a one year low of $9.54 and a one year high of $20.29. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 11th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, February 11th. This represents a $0.68 dividend on an annualized basis and a yield of 6.9%. Nomad Foods’s dividend payout ratio (DPR) is presently 66.67%.

About Nomad Foods

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.