Alliancebernstein L.P. Has $143.51 Million Stock Holdings in Nomad Foods Limited $NOMD

Key Points

• AllianceBernstein L.P. reduced its stake in Nomad Foods Limited by 5.3%, now owning 7,303,360 shares worth approximately $143.5 million.
• Nomad Foods reported earnings of $0.45 per share, exceeding estimates, alongside revenues of $879.27 million during the last quarter.
• Barclays and Mizuho have lowered their price targets for Nomad Foods, now set at $18.00 and $20.00 respectively, while the average price target stands at $20.33.

Alliancebernstein L.P. decreased its holdings in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,303,360 shares of the company's stock after selling 404,994 shares during the quarter. Alliancebernstein L.P. owned about 4.76% of Nomad Foods worth $143,511,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in Nomad Foods during the 1st quarter worth $32,000. Tower Research Capital LLC TRC grew its stake in shares of Nomad Foods by 13,508.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,396 shares of the company's stock worth $107,000 after purchasing an additional 6,349 shares during the period. Lazard Asset Management LLC bought a new stake in Nomad Foods in the fourth quarter valued at about $134,000. State of Wyoming increased its holdings in Nomad Foods by 56.6% in the first quarter. State of Wyoming now owns 9,466 shares of the company's stock valued at $186,000 after purchasing an additional 3,421 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Nomad Foods in the first quarter valued at about $196,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NOMD shares. Mizuho decreased their target price on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Barclays decreased their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $20.33.

Nomad Foods Stock Down 1.2%

Shares of NYSE NOMD traded down $0.18 during mid-day trading on Monday, reaching $14.53. 1,138,741 shares of the company's stock were exchanged, compared to its average volume of 970,009. Nomad Foods Limited has a twelve month low of $14.46 and a twelve month high of $20.81. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 7.87 and a beta of 0.70. The business has a fifty day simple moving average of $16.38 and a 200 day simple moving average of $17.90.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The business had revenue of $879.27 million during the quarter, compared to analysts' expectations of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.Nomad Foods's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. As a group, equities analysts expect that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Monday, August 11th. Nomad Foods's dividend payout ratio (DPR) is presently 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.