Invenomic Capital Management LP Has $12.52 Million Stock Position in Nomad Foods Limited $NOMD

Invenomic Capital Management LP boosted its position in shares of Nomad Foods Limited (NYSE:NOMD) by 144.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 952,268 shares of the company’s stock after purchasing an additional 562,304 shares during the period. Invenomic Capital Management LP owned about 0.62% of Nomad Foods worth $12,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. acquired a new stake in shares of Nomad Foods during the third quarter worth approximately $43,000. Mondrian Investment Partners LTD bought a new stake in Nomad Foods during the 3rd quarter worth approximately $44,000. Osaic Holdings Inc. increased its holdings in Nomad Foods by 87.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after purchasing an additional 1,240 shares in the last quarter. Arizona PSPRS Trust acquired a new stake in Nomad Foods during the 3rd quarter valued at $121,000. Finally, Virtu Financial LLC bought a new position in Nomad Foods in the 3rd quarter valued at $144,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Stock Up 3.1%

Shares of NYSE NOMD opened at $9.85 on Monday. Nomad Foods Limited has a 52-week low of $9.54 and a 52-week high of $20.29. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.07. The stock has a market cap of $1.40 billion, a P/E ratio of 9.65 and a beta of 0.74. The firm has a 50 day moving average price of $11.91 and a 200 day moving average price of $12.42.

Nomad Foods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.68 annualized dividend and a dividend yield of 6.9%. Nomad Foods’s payout ratio is 66.67%.

Analyst Ratings Changes

Several brokerages have recently commented on NOMD. Mizuho decreased their target price on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Barclays cut their price target on Nomad Foods from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. BTIG Research reduced their price target on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings lowered shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Finally, Zacks Research downgraded shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.67.

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.