VELA Investment Management LLC Has $1.53 Million Position in Nomad Foods Limited $NOMD

VELA Investment Management LLC grew its holdings in shares of Nomad Foods Limited (NYSE:NOMD) by 119.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,400 shares of the company’s stock after acquiring an additional 66,500 shares during the period. VELA Investment Management LLC owned 0.08% of Nomad Foods worth $1,531,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Hussman Strategic Advisors Inc. acquired a new stake in Nomad Foods during the 4th quarter worth about $2,102,000. Oppenheimer Asset Management Inc. grew its holdings in Nomad Foods by 101.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 24,523 shares of the company’s stock worth $307,000 after acquiring an additional 12,353 shares during the period. R Squared Ltd grew its holdings in Nomad Foods by 122.6% during the 4th quarter. R Squared Ltd now owns 31,104 shares of the company’s stock worth $389,000 after acquiring an additional 17,132 shares during the period. UBS Group AG grew its holdings in Nomad Foods by 136.3% during the 4th quarter. UBS Group AG now owns 384,332 shares of the company’s stock worth $4,808,000 after acquiring an additional 221,716 shares during the period. Finally, HB Wealth Management LLC acquired a new stake in Nomad Foods during the 4th quarter worth about $184,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on NOMD shares. Mizuho decreased their price target on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Barclays decreased their price target on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Finally, Weiss Ratings cut shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.50.

Nomad Foods Price Performance

NOMD stock opened at $9.51 on Friday. Nomad Foods Limited has a 1 year low of $9.39 and a 1 year high of $20.29. The stock has a market capitalization of $1.35 billion, a PE ratio of 9.33 and a beta of 0.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66. The company’s 50-day moving average is $10.11 and its 200-day moving average is $11.48.

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Tuesday, May 12th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.68 annualized dividend and a yield of 7.1%. 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.