Applied Fundamental Research LLC Cuts Position in Nomad Foods Limited $NOMD

Key Points

• Applied Fundamental Research LLC cut its stake in Nomad Foods by 29.0%, selling 213,716 shares in Q4 and retaining 524,300 shares (about 0.34% of the company) worth $6.56M, which represents 6.5% of the firm's portfolio and its 10th largest holding.
• Analyst sentiment is mixed with a consensus "Hold" and a $12.50 average target; several brokers have lowered price targets and issued downgrades while three analysts rate Buy, one Hold and two Sell.
• Nomad trades near $9.60 with a market cap of $1.36B, a P/E of 9.41, a $0.68 annualized dividend (7.1% yield), and about 75.26% of shares held by institutional investors.

Applied Fundamental Research LLC cut its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 29.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 524,300 shares of the company's stock after selling 213,716 shares during the quarter. Nomad Foods accounts for 6.5% of Applied Fundamental Research LLC's investment portfolio, making the stock its 10th largest holding. Applied Fundamental Research LLC owned about 0.34% of Nomad Foods worth $6,559,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NOMD. Alliancebernstein L.P. lifted its position in shares of Nomad Foods by 0.4% during the 2nd quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company's stock valued at $124,546,000 after acquiring an additional 27,177 shares during the period. Polaris Capital Management LLC raised its holdings in shares of Nomad Foods by 138.8% in the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company's stock worth $45,261,000 after acquiring an additional 2,000,400 shares during the last quarter. Royce & Associates LP boosted its stake in Nomad Foods by 45.4% during the 3rd quarter. Royce & Associates LP now owns 2,451,806 shares of the company's stock valued at $32,241,000 after purchasing an additional 765,690 shares during the last quarter. Ruffer LLP bought a new stake in Nomad Foods during the 4th quarter worth approximately $26,823,000. Finally, Wellington Management Group LLP increased its holdings in Nomad Foods by 7.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,713,601 shares of the company's stock worth $22,534,000 after purchasing an additional 117,089 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NOMD. Zacks Research downgraded Nomad Foods from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Barclays decreased their price objective on shares of Nomad Foods from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. Mizuho decreased their price target on Nomad Foods from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings lowered Nomad Foods from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, March 2nd. Finally, BTIG Research reduced their price objective on Nomad Foods from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.50.

Nomad Foods Stock Down 1.2%

NOMD stock opened at $9.60 on Thursday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 9.41 and a beta of 0.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.07. The stock has a fifty day moving average of $10.49 and a 200-day moving average of $11.60. Nomad Foods Limited has a fifty-two week low of $9.43 and a fifty-two week high of $20.29.

Nomad Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 11th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.68 annualized dividend and a yield of 7.1%. Nomad Foods's dividend payout ratio (DPR) is 66.67%.

Nomad Foods Company Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company's portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella's and Aunt Bessie's, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe's largest frozen foods platform.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.