Renaissance Group LLC Trims Stake in Nomad Foods Limited $NOMD

Renaissance Group LLC lowered its position in Nomad Foods Limited (NYSE:NOMD) by 22.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 329,640 shares of the company’s stock after selling 94,484 shares during the quarter. Renaissance Group LLC owned about 0.21% of Nomad Foods worth $4,335,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vontobel Holding Ltd. increased its stake in Nomad Foods by 3.5% in the 2nd quarter. Vontobel Holding Ltd. now owns 20,417 shares of the company’s stock worth $347,000 after acquiring an additional 688 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Nomad Foods by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,048 shares of the company’s stock worth $511,000 after purchasing an additional 690 shares during the last quarter. Tidal Investments LLC increased its position in shares of Nomad Foods by 1.9% in the second quarter. Tidal Investments LLC now owns 38,037 shares of the company’s stock worth $646,000 after purchasing an additional 726 shares during the last quarter. California Public Employees Retirement System grew its stake in Nomad Foods by 0.4% in the 2nd quarter. California Public Employees Retirement System now owns 268,627 shares of the company’s stock worth $4,564,000 after buying an additional 1,044 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after buying an additional 1,240 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on NOMD shares. Zacks Research upgraded shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a research report on Wednesday, January 28th. BTIG Research reiterated a “buy” rating and issued a $18.00 price objective on shares of Nomad Foods in a report on Monday, November 10th. Finally, Mizuho decreased their price objective on Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, January 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Nomad Foods currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Nomad Foods Stock Performance

Nomad Foods stock opened at $12.91 on Friday. The firm has a fifty day simple moving average of $12.29 and a two-hundred day simple moving average of $13.23. The company has a quick ratio of 0.59, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. Nomad Foods Limited has a twelve month low of $11.04 and a twelve month high of $20.81. The company has a market capitalization of $1.98 billion, a PE ratio of 8.97 and a beta of 0.72.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $881.94 million during the quarter, compared to analysts’ expectations of $760.75 million. Nomad Foods had a return on equity of 9.73% and a net margin of 6.56%.The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. Research analysts expect that Nomad Foods Limited will post 1.82 EPS for the current year.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Wednesday, February 11th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, February 11th. Nomad Foods’s payout ratio is presently 47.22%.

Nomad Foods Company 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.