Allspring Global Investments Holdings LLC Raises Position in Nomad Foods Limited (NYSE:NOMD)

Allspring Global Investments Holdings LLC raised its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,824,222 shares of the company's stock after purchasing an additional 254,314 shares during the period. Allspring Global Investments Holdings LLC owned 4.45% of Nomad Foods worth $134,096,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Sequoia Financial Advisors LLC purchased a new stake in Nomad Foods in the 1st quarter valued at approximately $196,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Nomad Foods by 1.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 420,527 shares of the company's stock valued at $8,263,000 after acquiring an additional 6,775 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of Nomad Foods by 85.4% during the first quarter. Harbour Capital Advisors LLC now owns 29,750 shares of the company's stock valued at $592,000 after acquiring an additional 13,700 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Nomad Foods by 72.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 27,354 shares of the company's stock worth $538,000 after purchasing an additional 11,458 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Nomad Foods by 38.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 43,993 shares of the company's stock worth $864,000 after purchasing an additional 12,219 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays boosted their price target on Nomad Foods from $19.00 to $23.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Mizuho upped their target price on Nomad Foods from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Finally, Wall Street Zen lowered Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 9th.

Nomad Foods Trading Up 2.3%

Shares of NOMD traded up $0.39 during mid-day trading on Tuesday, reaching $17.38. The company had a trading volume of 2,674,230 shares, compared to its average volume of 692,524. Nomad Foods Limited has a fifty-two week low of $15.43 and a fifty-two week high of $20.81. The firm has a fifty day simple moving average of $18.04 and a 200-day simple moving average of $18.16. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 11.59 and a beta of 0.75. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The firm had revenue of $822.31 million for the quarter, compared to analysts' expectations of $769.39 million. Nomad Foods had a net margin of 7.35% and a return on equity of 10.60%. Nomad Foods's revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. On average, sell-side analysts anticipate that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 12th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.68 dividend on an annualized basis and a yield of 3.91%. Nomad Foods's dividend payout ratio (DPR) is 45.33%.

Nomad Foods Company Profile

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.