Nomad Foods Limited $NOMD Shares Acquired by Royce & Associates LP

Royce & Associates LP increased its stake in Nomad Foods Limited (NYSE:NOMD) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,492,959 shares of the company’s stock after acquiring an additional 171,128 shares during the period. Royce & Associates LP owned approximately 2.50% of Nomad Foods worth $36,082,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NOMD. Robeco Institutional Asset Management B.V. raised its position in Nomad Foods by 29.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 532,129 shares of the company’s stock valued at $5,497,000 after purchasing an additional 119,759 shares in the last quarter. Sei Investments Co. grew its position in shares of Nomad Foods by 68.6% during the first quarter. Sei Investments Co. now owns 518,813 shares of the company’s stock worth $4,986,000 after buying an additional 211,183 shares in the last quarter. Endure Capital Management LLC acquired a new position in shares of Nomad Foods during the first quarter worth about $4,236,000. Lazard Asset Management LLC acquired a new position in shares of Nomad Foods during the first quarter worth about $3,029,000. Finally, Renaissance Technologies LLC increased its stake in shares of Nomad Foods by 6.0% during the first quarter. Renaissance Technologies LLC now owns 3,024,282 shares of the company’s stock worth $29,063,000 after buying an additional 172,215 shares during the period. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOMD. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a report on Tuesday, September 29th. Deutsche Bank reiterated a “hold” rating and issued a $12.00 price target on shares of Nomad Foods in a research note on Wednesday, October 7th. Jefferies Financial Group reiterated a “buy” rating and set a $15.00 price target on shares of Nomad Foods in a report on Wednesday, November 4th. Zacks Research downgraded shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Finally, Barclays raised their price objective on shares of Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Nomad Foods presently has an average rating of “Hold” and an average price target of $13.80.

Nomad Foods Stock Up 2.5%

Shares of NYSE:NOMD traded up $0.29 on Friday, hitting $11.95. 744,521 shares of the company’s stock were exchanged, compared to its average volume of 1,018,295. Nomad Foods Limited has a 1-year low of $8.99 and a 1-year high of $13.08. The company has a market capitalization of $1.67 billion, a PE ratio of 10.86 and a beta of 0.74. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.67 and a current ratio of 1.11. The firm’s 50-day moving average is $11.35 and its 200 day moving average is $11.01.

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

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Tuesday, November 10th. Nomad Foods’s payout ratio is currently 61.82%.

Insider Buying and Selling at Nomad Foods

In related news, CEO Dominic Brisby bought 50,000 shares of the stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $12.38 per share, for a total transaction of $619,000.00. Following the acquisition, the chief executive officer owned 726,794 shares in the company, valued at approximately $8,997,709.72. This represents a 7.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ruben Baldew bought 28,290 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average cost of $11.85 per share, for a total transaction of $335,236.50. Following the completion of the transaction, the chief financial officer directly owned 367,172 shares in the company, valued at approximately $4,350,988.20. The trade was a 8.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 86,669 shares of company stock valued at $1,054,366. Company insiders own 17.27% of the company’s stock.

About Nomad Foods

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.