Brown Advisory Inc. Has $87.55 Million Stake in Nomad Foods Limited $NOMD

Key Points

• Brown Advisory trimmed its Nomad Foods stake by 8.7% in the fourth quarter, but still held 6.998 million shares worth about $87.55 million at quarter-end.
• Nomad Foods reported better-than-expected Q1 earnings with EPS of $0.27 versus $0.21 expected and revenue of $827.87 million, though sales were still down 5.9% year over year.
• The company paid a quarterly dividend of $0.17 per share, implying a 6.5% annual yield, while insiders recently bought shares and analysts currently have a Hold consensus rating with a $12.50 target.

Brown Advisory Inc. decreased its stake in Nomad Foods Limited (NYSE:NOMD - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,998,368 shares of the company's stock after selling 671,054 shares during the quarter. Brown Advisory Inc. owned approximately 4.56% of Nomad Foods worth $87,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Aigen Investment Management LP acquired a new position in Nomad Foods in the fourth quarter worth $140,000. Brigade Capital Management LP acquired a new position in shares of Nomad Foods during the fourth quarter valued at $10,946,000. Headlands Technologies LLC lifted its stake in shares of Nomad Foods by 179.1% during the fourth quarter. Headlands Technologies LLC now owns 45,643 shares of the company's stock valued at $571,000 after acquiring an additional 29,291 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Nomad Foods by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,244,735 shares of the company's stock valued at $15,572,000 after acquiring an additional 94,340 shares during the period. Finally, State Street Corp lifted its stake in shares of Nomad Foods by 9.2% during the fourth quarter. State Street Corp now owns 228,236 shares of the company's stock valued at $2,855,000 after acquiring an additional 19,278 shares during the period. Institutional investors and hedge funds own 75.26% of the company's stock.

Nomad Foods Stock Up 0.3%

NOMD stock opened at $10.47 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.06 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average price of $9.86 and a two-hundred day moving average price of $11.08. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 10.16 and a beta of 0.70. Nomad Foods Limited has a twelve month low of $8.99 and a twelve month high of $18.33.

Nomad Foods (NYSE:NOMD - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The company had revenue of $827.87 million during the quarter, compared to the consensus estimate of $804.00 million. During the same period in the previous year, the company posted $0.21 EPS. The firm's revenue for the quarter was down 5.9% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. Analysts anticipate that Nomad Foods Limited will post 1.75 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Tuesday, May 12th. Nomad Foods's payout ratio is currently 66.02%.

Insider Buying and Selling

In other news, Director Ian G. H. Ashken purchased 100,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $9.13 per share, with a total value of $913,000.00. Following the acquisition, the director owned 116,916 shares in the company, valued at approximately $1,067,443.08. This trade represents a 591.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ruben Baldew purchased 14,731 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $9.71 per share, with a total value of $143,038.01. Following the completion of the acquisition, the chief financial officer owned 338,882 shares in the company, valued at $3,290,544.22. The trade was a 4.54% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 264,731 shares of company stock valued at $2,524,538.

Analyst Ratings Changes

NOMD has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $10.00 price target (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th. Zacks Research raised Nomad Foods from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 13th. Barclays lowered their price target on Nomad Foods from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Tuesday, April 14th. Mizuho decreased their price objective on Nomad Foods from $15.00 to $13.00 and set an "outperform" rating for the company in a report on Tuesday, March 3rd. Finally, Weiss Ratings lowered shares of Nomad Foods from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $12.50.

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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