Acadian Asset Management LLC Makes New $1.55 Million Investment in Nomad Foods Limited $NOMD

Key Points

• Acadian Asset Management LLC has made a new investment of approximately $1.55 million in Nomad Foods Limited, acquiring 78,947 shares in the first quarter of 2023.
• Nomad Foods' recent quarterly earnings beat expectations with an EPS of $0.45 and revenues reaching $879.27 million, despite a 0.8% year-over-year decline.
• The firm announced a quarterly dividend of $0.17, reflecting an annual yield of 4.9% and a payout ratio of 46.58%.

Acadian Asset Management LLC acquired a new position in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 78,947 shares of the company's stock, valued at approximately $1,550,000. Acadian Asset Management LLC owned 0.05% of Nomad Foods at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Nomad Foods during the 1st quarter worth about $32,000. Lazard Asset Management LLC purchased a new stake in shares of Nomad Foods during the 4th quarter worth about $134,000. State of Wyoming raised its stake in shares of Nomad Foods by 56.6% during the 1st quarter. State of Wyoming now owns 9,466 shares of the company's stock worth $186,000 after purchasing an additional 3,421 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Nomad Foods during the 1st quarter worth about $196,000. Finally, Sciencast Management LP purchased a new stake in shares of Nomad Foods during the 1st quarter worth about $196,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOMD. Mizuho cut their price target on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Barclays cut their price target on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $20.33.

Nomad Foods Price Performance

Shares of NOMD stock opened at $13.77 on Wednesday. The stock's fifty day simple moving average is $15.99 and its 200 day simple moving average is $17.70. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 9.43 and a beta of 0.70. Nomad Foods Limited has a one year low of $13.58 and a one year high of $20.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $879.27 million for the quarter, compared to analyst estimates of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.Nomad Foods's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, analysts expect that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 4.9%. Nomad Foods's payout ratio is currently 46.58%.

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.

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