Allspring Global Investments Holdings LLC Increases Stake in Nomad Foods Limited (NYSE:NOMD)

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

Other hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Nomad Foods during the fourth quarter valued at about $62,000. Parkside Financial Bank & Trust lifted its position in shares of Nomad Foods by 21.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company's stock valued at $63,000 after buying an additional 670 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Nomad Foods in the 4th quarter worth $76,000. Tower Research Capital LLC TRC grew its stake in Nomad Foods by 13,508.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,396 shares of the company's stock worth $107,000 after buying an additional 6,349 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Nomad Foods during the 4th quarter valued at about $134,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Nomad Foods Stock Performance

Nomad Foods stock traded down $0.11 during trading hours on Friday, hitting $17.05. 609,500 shares of the stock traded hands, compared to its average volume of 684,669. Nomad Foods Limited has a 1 year low of $15.43 and a 1 year high of $20.81. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 11.36 and a beta of 0.75. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.66. The firm's 50 day moving average price is $18.10 and its 200-day moving average price is $18.16.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Nomad Foods had a return on equity of 10.60% and a net margin of 7.35%. The firm had revenue of $822.31 million during the quarter, compared to analysts' expectations of $769.39 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The company's revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, equities analysts expect that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 12th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Monday, May 12th. Nomad Foods's payout ratio 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.