Lombard Odier Asset Management Europe Ltd Purchases New Stake in Nomad Foods Limited $NOMD

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Nomad Foods Limited (NYSE:NOMD) during the 4th quarter, Holdings Channel.com reports. The firm acquired 891,031 shares of the company’s stock, valued at approximately $11,147,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Alliancebernstein L.P. raised its holdings in shares of Nomad Foods by 0.4% during the second quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company’s stock worth $124,546,000 after purchasing an additional 27,177 shares during the period. Royce & Associates LP boosted its holdings in shares of Nomad Foods by 1.3% in the 4th quarter. Royce & Associates LP now owns 2,484,858 shares of the company’s stock valued at $31,086,000 after buying an additional 33,052 shares during the period. Ruffer LLP acquired a new position in shares of Nomad Foods in the 4th quarter valued at about $26,823,000. Loomis Sayles & Co. L P grew its position in shares of Nomad Foods by 2.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,856,727 shares of the company’s stock valued at $23,228,000 after buying an additional 48,060 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Nomad Foods by 7.3% during the third quarter. Wellington Management Group LLP now owns 1,713,601 shares of the company’s stock worth $22,534,000 after acquiring an additional 117,089 shares during the period. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Stock Down 0.8%

NOMD opened at $10.24 on Wednesday. The stock’s 50 day moving average price is $9.88 and its 200 day moving average price is $11.06. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.06 and a quick ratio of 0.66. The stock has a market cap of $1.43 billion, a P/E ratio of 9.94 and a beta of 0.70. Nomad Foods Limited has a 12 month low of $8.99 and a 12 month high of $18.33.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. The company had revenue of $827.87 million during the quarter, compared to analysts’ expectations of $804.00 million. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. As a group, research analysts predict that Nomad Foods Limited will post 1.75 earnings per share for the current year.

Nomad Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.68 annualized dividend and a yield of 6.6%. Nomad Foods’s dividend payout ratio (DPR) is presently 66.02%.

Analysts Set New Price Targets

A number of equities analysts have commented on NOMD shares. Weiss Ratings downgraded Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 price target (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Mizuho reduced their price objective on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Zacks Research upgraded Nomad Foods from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, Barclays dropped their target price on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.50.

Insiders Place Their Bets

In related news, Director Ian G. H. Ashken acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $9.13 per share, for a total transaction of $913,000.00. Following the completion of the purchase, the director directly owned 116,916 shares of the company’s stock, valued at $1,067,443.08. The trade was a 591.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dominic Brisby bought 150,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $9.79 per share, for a total transaction of $1,468,500.00. Following the acquisition, the chief executive officer owned 676,794 shares of the company’s stock, valued at $6,625,813.26. This represents a 28.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 264,731 shares of company stock worth $2,524,538.

Nomad Foods Profile

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.