918,357 Shares in Nomad Foods Limited $NOMD Bought by Norges Bank

Norges Bank acquired a new stake in Nomad Foods Limited (NYSE:NOMD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 918,357 shares of the company’s stock, valued at approximately $15,603,000. Norges Bank owned 0.60% of Nomad Foods as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Boston Partners boosted its stake in shares of Nomad Foods by 40.3% during the second quarter. Boston Partners now owns 14,323,433 shares of the company’s stock worth $243,276,000 after buying an additional 4,114,150 shares during the period. Franklin Resources Inc. acquired a new position in Nomad Foods in the 2nd quarter valued at about $468,000. Legal & General Group Plc raised its stake in Nomad Foods by 124.7% during the 2nd quarter. Legal & General Group Plc now owns 61,040 shares of the company’s stock valued at $1,037,000 after acquiring an additional 33,877 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Nomad Foods by 427.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 105,871 shares of the company’s stock valued at $1,799,000 after acquiring an additional 85,793 shares during the last quarter. Finally, ABN AMRO Bank N.V. acquired a new stake in Nomad Foods during the 2nd quarter worth approximately $6,056,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods Stock Performance

Shares of NOMD stock opened at $11.98 on Tuesday. 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 50 day simple moving average of $12.12 and a 200-day simple moving average of $14.75. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 8.32 and a beta of 0.73. Nomad Foods Limited has a 12-month low of $11.04 and a 12-month high of $20.81.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $881.94 million for the quarter, compared to analyst estimates of $760.75 million. Nomad Foods had a return on equity of 9.73% and a net margin of 6.56%.The company’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 EPS. On average, equities analysts forecast that Nomad Foods Limited will post 1.82 EPS for the current year.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.7%. Nomad Foods’s dividend payout ratio is 47.22%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NOMD. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a research report on Friday, October 31st. BTIG Research reissued a “buy” rating and issued a $18.00 price objective on shares of Nomad Foods in a research note on Monday, November 10th. Finally, Mizuho cut their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.67.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.