Ameriprise Financial Inc. Purchases 585,054 Shares of Nomad Foods Limited $NOMD

Key Points

• Ameriprise Financial Inc. increased its holdings in Nomad Foods Limited by 46.2%, owning approximately 1.21% of the company, valued at $36.4 million after acquiring an additional 585,054 shares during the 1st quarter.
• Nomad Foods reported earnings of $0.45 per share, exceeding the consensus estimate of $0.44, with revenue of $879.27 million during the last quarter.
• The company announced a quarterly dividend of $0.17 per share, representing a 4.4% dividend yield, with a payout ratio of 46.58%.

Ameriprise Financial Inc. boosted its position in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 46.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,851,199 shares of the company's stock after buying an additional 585,054 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.21% of Nomad Foods worth $36,376,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Nomad Foods during the 1st quarter worth $530,000. Sequoia Financial Advisors LLC acquired a new position in Nomad Foods during the 1st quarter worth $196,000. Brown Advisory Inc. lifted its holdings in Nomad Foods by 0.8% during the 1st quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock worth $165,890,000 after buying an additional 66,060 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Nomad Foods in the 1st quarter valued at $405,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of Nomad Foods in the 1st quarter valued at $300,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Analyst Upgrades and Downgrades

NOMD has been the topic of a number of analyst reports. Wall Street Zen downgraded Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 9th. Barclays cut their price target on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Mizuho cut their price target on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Nomad Foods presently has an average rating of "Buy" and a consensus target price of $20.33.

Nomad Foods Trading Down 0.2%

Nomad Foods stock traded down $0.03 during mid-day trading on Wednesday, hitting $15.35. 263,933 shares of the company's stock were exchanged, compared to its average volume of 825,023. The firm has a market capitalization of $2.35 billion, a P/E ratio of 10.52 and a beta of 0.70. Nomad Foods Limited has a fifty-two week low of $14.72 and a fifty-two week high of $20.81. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. The company's 50 day simple moving average is $16.56 and its 200-day simple moving average is $17.99.

Nomad Foods (NYSE:NOMD - Get Free Report) last released 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 firm 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%.The company's revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, equities analysts anticipate that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders 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 yield of 4.4%. The ex-dividend date was Monday, August 11th. Nomad Foods's dividend payout ratio is 46.58%.

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.