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

Bank of America Corp DE reduced its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Nomad Foods by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 933,883 shares of the company's stock worth $15,671,000 after purchasing an additional 33,058 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Nomad Foods by 11.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,140,867 shares of the company's stock worth $19,144,000 after acquiring an additional 114,026 shares in the last quarter. Raymond James Financial Inc. bought a new position in Nomad Foods during the fourth quarter worth $11,967,000. PNC Financial Services Group Inc. boosted its stake in Nomad Foods by 10.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 27,333 shares of the company's stock worth $459,000 after acquiring an additional 2,535 shares in the last quarter. Finally, River Road Asset Management LLC boosted its position in shares of Nomad Foods by 0.6% during the 4th quarter. River Road Asset Management LLC now owns 4,044,438 shares of the company's stock worth $67,866,000 after purchasing an additional 24,775 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

Nomad Foods Stock Down 0.3%

Shares of Nomad Foods stock traded down $0.06 during trading hours on Friday, reaching $17.60. The company's stock had a trading volume of 716,440 shares, compared to its average volume of 668,301. The stock's fifty day simple moving average is $19.15 and its two-hundred day simple moving average is $18.19. The company has a market capitalization of $2.70 billion, a P/E ratio of 13.23 and a beta of 0.81. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20. Nomad Foods Limited has a one year low of $15.43 and a one year high of $20.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its quarterly 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 business had revenue of $822.31 million during the quarter, compared to the consensus estimate of $769.39 million. Nomad Foods had a net margin of 6.54% and a return on equity of 10.38%. The business's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.37 EPS. On average, research analysts forecast that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 12th will be paid 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 3.86%. Nomad Foods's dividend payout ratio is presently 45.33%.

Wall Street Analyst Weigh In

NOMD has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Nomad Foods from $19.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Wall Street Zen cut shares of Nomad Foods from a "buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Mizuho increased their price objective on shares of Nomad Foods from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th.

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.