Ancora Advisors LLC Boosts Holdings in Nomad Foods Limited $NOMD

Key Points

• Ancora Advisors LLC increased its stake in Nomad Foods Limited by 5.9% during the first quarter, bringing its total ownership to 733,093 shares valued at approximately $14.4 million.
• Major institutional investors, including Boston Partners and Ameriprise Financial Inc., have also raised their positions in Nomad Foods, contributing to a total institutional ownership of 75.26% in the company.
• Analysts have recently adjusted their price targets for Nomad Foods, with Mizuho lowering it from $23 to $20, while Barclays set a new target of $18, reflecting a generally cautious outlook.

Ancora Advisors LLC lifted its holdings in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 5.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 733,093 shares of the company's stock after acquiring an additional 41,089 shares during the quarter. Ancora Advisors LLC owned 0.48% of Nomad Foods worth $14,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Nomad Foods during the first quarter valued at approximately $32,000. Tower Research Capital LLC TRC increased its position 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 valued at $107,000 after acquiring an additional 6,349 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Nomad Foods during the fourth quarter valued at approximately $134,000. State of Wyoming increased its position in shares of Nomad Foods by 56.6% during the first quarter. State of Wyoming now owns 9,466 shares of the company's stock valued at $186,000 after acquiring an additional 3,421 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Nomad Foods during the first quarter valued at approximately $196,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods Price Performance

NYSE NOMD traded down $0.25 on Friday, hitting $14.69. The stock had a trading volume of 4,137,445 shares, compared to its average volume of 813,418. Nomad Foods Limited has a 52-week low of $14.46 and a 52-week high of $20.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.63 and a current ratio of 1.02. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 10.06 and a beta of 0.70. The firm has a 50-day moving average of $16.43 and a 200-day moving average of $17.93.

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 the consensus estimate of $0.44 by $0.01. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The business had revenue of $879.27 million for the quarter, compared to analysts' expectations of $762.81 million. During the same period in the prior year, the company posted $0.44 EPS. The business's revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts expect that Nomad Foods Limited will post 1.82 EPS for the current year.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, August 11th. Nomad Foods's payout ratio is currently 46.58%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NOMD shares. Mizuho dropped their price objective 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. Barclays dropped their price objective 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. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Nomad Foods has a consensus rating of "Buy" and a consensus price target of $20.33.

Nomad Foods 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.