Bank of America Corp DE Decreases Stake in Nomad Foods Limited (NYSE:NOMD)

Bank of America Corp DE lessened its holdings in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 15.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,371,509 shares of the company's stock after selling 256,554 shares during the quarter. Bank of America Corp DE owned about 0.84% of Nomad Foods worth $23,014,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Parkside Financial Bank & Trust grew its holdings in Nomad Foods by 21.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company's stock valued at $63,000 after buying an additional 670 shares in the last quarter. Legal & General Group Plc grew its stake in Nomad Foods by 3.3% during the fourth quarter. Legal & General Group Plc now owns 25,392 shares of the company's stock valued at $426,000 after acquiring an additional 800 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Nomad Foods by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,320 shares of the company's stock valued at $1,650,000 after acquiring an additional 1,270 shares in the last quarter. Blue Trust Inc. increased its holdings in Nomad Foods by 70.6% during the 4th quarter. Blue Trust Inc. now owns 3,500 shares of the company's stock worth $59,000 after acquiring an additional 1,448 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in Nomad Foods by 5.2% in the 4th quarter. Handelsbanken Fonder AB now owns 42,800 shares of the company's stock worth $718,000 after purchasing an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company's stock.

Nomad Foods Price Performance

NOMD stock opened at $18.14 on Monday. The firm has a 50 day simple moving average of $19.34 and a two-hundred day simple moving average of $18.18. The stock has a market cap of $2.78 billion, a PE ratio of 13.64 and a beta of 0.81. Nomad Foods Limited has a one year low of $15.43 and a one year high of $20.81. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $822.31 million during the quarter, compared to analysts' expectations of $769.39 million. Nomad Foods had a return on equity of 10.38% and a net margin of 6.54%. The firm's revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. On average, analysts predict that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 12th will be given a $0.17 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.68 dividend on an annualized basis and a yield of 3.75%. Nomad Foods's payout ratio is 45.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NOMD shares. Mizuho boosted their price target on shares of Nomad Foods from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Barclays boosted their target price on Nomad Foods from $19.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Finally, StockNews.com cut Nomad Foods from a "buy" rating to a "hold" rating in a report on Friday, May 9th.

About Nomad Foods

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.