Charles Schwab Investment Management Inc. Increases Position in Nomad Foods Limited $NOMD

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Nomad Foods Limited by 6.2%, owning approximately 0.79% of the company valued at $23.8 million after additional purchases.
• Nomad Foods recently reported earnings per share of $0.45, surpassing expectations, but quarterly revenue has decreased by 0.8% year-on-year.
• The company announced a quarterly dividend of $0.17 per share, representing an annual yield of 4.5%.

Charles Schwab Investment Management Inc. lifted its stake in Nomad Foods Limited (NYSE:NOMD - Free Report) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,211,211 shares of the company's stock after purchasing an additional 70,344 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.79% of Nomad Foods worth $23,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. purchased a new stake in shares of Nomad Foods during the 4th quarter worth approximately $62,000. Tower Research Capital LLC TRC boosted its position in Nomad Foods by 13,508.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,396 shares of the company's stock worth $107,000 after purchasing an additional 6,349 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Nomad Foods during the fourth quarter worth $134,000. Quarry LP grew its holdings in Nomad Foods by 964.8% in the fourth quarter. Quarry LP now owns 8,646 shares of the company's stock valued at $145,000 after purchasing an additional 7,834 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Nomad Foods in the first quarter valued at $196,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Price Performance

Nomad Foods stock opened at $15.0670 on Thursday. The stock has a market capitalization of $2.31 billion, a P/E ratio of 10.32 and a beta of 0.72. Nomad Foods Limited has a 12-month low of $14.72 and a 12-month high of $20.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63. The firm's 50-day moving average is $16.86 and its two-hundred day moving average is $18.14.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $879.27 million for the quarter, compared to the consensus estimate of $762.81 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The company's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Equities analysts predict that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, August 11th. Nomad Foods's dividend payout ratio is presently 46.58%.

Analysts Set New Price Targets

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

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.

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