Nomad Foods (NYSE:NOMD) Stock: Insider Ruben Baldew Buys 8,379 Shares

Nomad Foods Limited (NYSE:NOMD) CFO Ruben Baldew bought 8,379 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was acquired at an average cost of $11.95 per share, with a total value of $100,129.05. Following the transaction, the chief financial officer owned 375,551 shares in the company, valued at $4,487,834.45. The trade was a 2.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ruben Baldew also recently made the following trade(s):

• On Wednesday, August 19th, Ruben Baldew bought 28,290 shares of Nomad Foods stock. The shares were bought at an average price of $11.85 per share, for a total transaction of $335,236.50.

Nomad Foods Stock Performance

NOMD traded up $0.02 during midday trading on Thursday, hitting $11.67. 816,921 shares of the company traded hands, compared to its average volume of 1,548,720. The company’s 50-day moving average is $11.34 and its 200 day moving average is $11.02. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1.63 billion, a PE ratio of 10.61 and a beta of 0.74. Nomad Foods Limited has a 52 week low of $8.99 and a 52 week high of $13.08.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $825.94 million during the quarter, compared to analyst estimates of $825.02 million. Nomad Foods had a net margin of 4.46% and a return on equity of 8.63%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. On average, research analysts expect that Nomad Foods Limited will post 1.62 EPS for the current year.

Nomad Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.68 dividend on an annualized basis and a yield of 5.8%. Nomad Foods’s payout ratio is currently 61.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NOMD shares. BTIG Research restated a “buy” rating and issued a $15.00 price target on shares of Nomad Foods in a research note on Thursday, November 5th. Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Nomad Foods in a research report on Tuesday, September 29th. Deutsche Bank restated a “hold” rating and set a $12.00 price target on shares of Nomad Foods in a research note on Wednesday, October 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $15.00 price target on shares of Nomad Foods in a research report on Wednesday, November 4th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Royce & Associates LP increased its stake in shares of Nomad Foods by 5.2% in the 3rd quarter. Royce & Associates LP now owns 3,492,959 shares of the company’s stock worth $36,082,000 after purchasing an additional 171,128 shares in the last quarter. Money Concepts Capital Corp grew its holdings in Nomad Foods by 2.6% during the third quarter. Money Concepts Capital Corp now owns 257,610 shares of the company’s stock valued at $2,661,000 after purchasing an additional 6,455 shares during the period. Russell Investments Group Ltd. grew its holdings in Nomad Foods by 91.0% during the third quarter. Russell Investments Group Ltd. now owns 1,177,950 shares of the company’s stock valued at $12,168,000 after purchasing an additional 561,334 shares during the period. R Squared Ltd increased its position in Nomad Foods by 12.1% in the third quarter. R Squared Ltd now owns 29,059 shares of the company’s stock worth $300,000 after buying an additional 3,130 shares in the last quarter. Finally, Penn Capital Management Company LLC purchased a new stake in Nomad Foods in the third quarter worth about $1,137,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Nomad Foods Company Profile

Nomad Foods Limited is a frozen-food company focused on European markets. It sells products including frozen fish, vegetables, meals, and poultry under brands such as Birds Eye, iglo, Findus, and Aunt Bessie’s. The company was formed in 2014 and expanded through acquisitions, including the purchase of the Iglo Group in 2015. Its products are sold across multiple European countries through grocery retailers and other food channels.