Boston Partners Purchases 1,019,957 Shares of Nomad Foods Limited (NYSE:NOMD)

Key Points

• Boston Partners increased its stake in Nomad Foods Limited by 11.1% in Q1, acquiring an additional 1,019,957 shares, bringing its total ownership to approximately 6.66% valued at $200.6 million.
• The company recently declared a quarterly dividend of $0.17 per share, representing an annualized yield of 4.4% with a payout ratio of 46.58%.
• Nomad Foods' earnings report showed a Q2 EPS of $0.45, slightly beating estimates, but with a 0.8% decrease in revenue year-over-year.

Boston Partners raised its stake in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 11.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 10,209,283 shares of the company's stock after purchasing an additional 1,019,957 shares during the period. Boston Partners owned 6.66% of Nomad Foods worth $200,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Nomad Foods in the 1st quarter valued at $530,000. Sequoia Financial Advisors LLC bought a new position in Nomad Foods during the first quarter valued at approximately $196,000. Brown Advisory Inc. boosted its stake in Nomad Foods by 0.8% during the first quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock valued at $165,890,000 after buying an additional 66,060 shares during the last quarter. Vanguard Group Inc. grew its holdings in Nomad Foods by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 933,883 shares of the company's stock valued at $15,671,000 after buying an additional 33,058 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in Nomad Foods in the 1st quarter worth approximately $300,000. Hedge funds and other institutional investors own 75.26% of the company's stock.

Analysts Set New Price Targets

NOMD has been the subject of a number of recent research reports. Barclays cut their target price on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Mizuho reduced their target price on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Nomad Foods from a "buy" rating to a "hold" rating in a report on Friday, May 9th.

Nomad Foods Trading Up 0.1%

NYSE:NOMD traded up $0.01 during mid-day trading on Friday, hitting $15.02. 1,011,390 shares of the stock traded hands, compared to its average volume of 1,105,977. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. Nomad Foods Limited has a 52 week low of $14.72 and a 52 week high of $20.81. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 10.29 and a beta of 0.72. The firm's 50 day moving average is $17.00 and its two-hundred day moving average is $18.20.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%. The business had revenue of $879.27 million during the quarter, compared to analyst estimates of $762.81 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company's revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts predict that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, August 11th. Nomad Foods's payout ratio is currently 46.58%.

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.