Bank of America Corp DE Buys 251,148 Shares of Nomad Foods Limited $NOMD

Key Points

• Bank of America increased its Nomad Foods stake by 19% in the first quarter, purchasing 251,148 shares and bringing its total holdings to 1.57 million shares valued at approximately $15.1 million.
• Nomad Foods reported quarterly earnings of $0.45 per share, beating estimates of $0.37, while revenue reached $825.94 million. However, revenue declined 3.1% year over year.
• The company declared a quarterly dividend of $0.17 per share, implying a 5.9% annualized yield. Analysts’ consensus rating remains “Hold,” with an average price target of $13.25 versus the stock’s recent price of $11.61.

Bank of America Corp DE boosted its stake in Nomad Foods Limited (NYSE:NOMD - Free Report) by 19.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,569,765 shares of the company's stock after purchasing an additional 251,148 shares during the quarter. Bank of America Corp DE owned about 1.12% of Nomad Foods worth $15,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in Nomad Foods by 3,231.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company's stock worth $29,000 after acquiring an additional 2,262 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Nomad Foods by 469.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company's stock worth $30,000 after purchasing an additional 1,996 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Nomad Foods in the 3rd quarter worth about $43,000. Osaic Holdings Inc. boosted its holdings in shares of Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company's stock worth $45,000 after purchasing an additional 1,240 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Nomad Foods by 219.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,773 shares of the company's stock valued at $75,000 after purchasing an additional 5,341 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors.

Nomad Foods Price Performance

NOMD opened at $11.61 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.10 and a quick ratio of 0.66. The stock's 50 day simple moving average is $11.39 and its 200 day simple moving average is $10.80. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 11.38 and a beta of 0.69. Nomad Foods Limited has a 1 year low of $8.99 and a 1 year high of $15.91.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. The firm had revenue of $825.94 million during the quarter, compared to the consensus estimate of $825.02 million. Nomad Foods had a return on equity of 8.88% and a net margin of 4.20%.The business's revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. As a group, analysts predict that Nomad Foods Limited will post 1.69 earnings per share for the current year.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, August 11th. Nomad Foods's dividend payout ratio is 66.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NOMD. Barclays raised their price objective on Nomad Foods from $12.00 to $14.00 and gave the company an "overweight" rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $11.00 target price on shares of Nomad Foods in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Nomad Foods from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 2nd. BTIG Research restated a "buy" rating and issued a $15.00 price objective on shares of Nomad Foods in a report on Friday, August 14th. Finally, Zacks Research lowered shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a report on Monday. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $13.25.

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.

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