Armistice Capital LLC Trims Holdings in Nomad Foods Limited $NOMD

Key Points

• Armistice Capital LLC has reduced its holdings in Nomad Foods Limited by 38.8%, now owning approximately 1,025,064 shares valued at $20.14 million.
• Other institutional investors, such as Boston Partners and Ameriprise Financial, have increased their stakes in Nomad Foods, indicating a mixed sentiment among investors regarding the stock.
• Recent analyst reports have downgraded Nomad Foods' price targets, suggesting a new consensus target of $20.33 despite maintaining a general "Buy" rating.

Armistice Capital LLC decreased its position in Nomad Foods Limited (NYSE:NOMD - Free Report) by 38.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,025,064 shares of the company's stock after selling 649,122 shares during the quarter. Armistice Capital LLC owned about 0.67% of Nomad Foods worth $20,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in NOMD. Summit Securities Group LLC acquired a new position in Nomad Foods in the 1st quarter valued at about $32,000. Tower Research Capital LLC TRC increased its stake in shares of 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 valued at $107,000 after acquiring an additional 6,349 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Nomad Foods during the 4th quarter valued at about $134,000. Boothbay Fund Management LLC acquired a new position in shares of Nomad Foods during the 4th quarter valued at about $181,000. Finally, State of Wyoming increased its stake in shares of Nomad Foods by 56.6% during the 1st 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. Institutional investors and hedge funds own 75.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 9th. Mizuho dropped their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Finally, Barclays dropped their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $20.33.

Nomad Foods Stock Down 0.2%

NYSE NOMD traded down $0.02 on Wednesday, reaching $15.36. The company had a trading volume of 547,706 shares, compared to its average volume of 1,255,806. The firm has a market capitalization of $2.36 billion, a PE ratio of 8.31 and a beta of 0.70. Nomad Foods Limited has a 1 year low of $14.72 and a 1 year high of $20.81. The firm has a 50-day moving average of $16.52 and a 200-day moving average of $17.98. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63.

Nomad Foods (NYSE:NOMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share 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%.Nomad Foods's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 EPS. On average, equities research analysts anticipate that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were issued a $0.17 dividend. 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 currently 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.