Candriam S.C.A. Sells 27,047 Shares of Nomad Foods Limited $NOMD

Key Points

• Candriam S.C.A. reduced its stake in Nomad Foods Limited by 19.5%, holding 111,319 shares valued at $2.19 million after selling 27,047 shares in the first quarter.
• Nomad Foods reported quarterly earnings of $0.45 per share, exceeding analysts' estimates, with revenues of $879.27 million, although down 0.8% from the previous year.
• The company announced a quarterly dividend of $0.17 per share, providing an annual yield of 4.4% and a payout ratio of 46.58%.

Candriam S.C.A. cut its holdings in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 19.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,319 shares of the company's stock after selling 27,047 shares during the period. Candriam S.C.A. owned 0.07% of Nomad Foods worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Boston Partners lifted its holdings in Nomad Foods by 11.1% in the first quarter. Boston Partners now owns 10,209,283 shares of the company's stock valued at $200,615,000 after buying an additional 1,019,957 shares during the period. Brown Advisory Inc. grew its stake in shares of Nomad Foods by 0.8% during the first quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock worth $165,890,000 after purchasing an additional 66,060 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Nomad Foods by 3.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,824,222 shares of the company's stock valued at $134,096,000 after purchasing an additional 254,314 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Nomad Foods by 2.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,176,211 shares of the company's stock valued at $70,077,000 after purchasing an additional 86,897 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Nomad Foods by 17.3% during the first quarter. Victory Capital Management Inc. now owns 2,724,866 shares of the company's stock worth $53,544,000 after buying an additional 402,599 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Nomad Foods from a "buy" rating to a "hold" rating in a report on Friday, May 9th. Barclays dropped their price objective on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Mizuho decreased their target price on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $20.33.

Nomad Foods Stock Down 1.0%

NYSE NOMD traded down $0.15 on Thursday, reaching $15.41. The company had a trading volume of 283,710 shares, compared to its average volume of 829,904. The company's fifty day moving average is $16.70 and its 200-day moving average is $18.06. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 10.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.63 and a current ratio of 1.02. Nomad Foods Limited has a 1-year low of $14.72 and a 1-year high of $20.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last released its quarterly 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 firm had revenue of $879.27 million for the quarter, compared to the consensus estimate of $762.81 million. During the same quarter last year, the business posted $0.44 EPS. The company's revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts forecast that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, August 11th. Nomad Foods's payout ratio is presently 46.58%.

Nomad Foods 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.