Congress Asset Management Co. Increases Position in Nomad Foods Limited $NOMD

Key Points

• Congress Asset Management increased its Nomad Foods stake by 21.7% in the third quarter, adding 272,805 shares to own 1.53 million shares valued at approximately $15.8 million. Institutional investors collectively own 75.26% of the company.
• Analyst sentiment is mixed, with ratings ranging from strong sell to buy; the consensus rating is Hold with a $13.25 target price. CEO Dominic Brisby and CFO Ruben Baldew also purchased shares, increasing their respective positions.
• Nomad Foods reported quarterly EPS of $0.45, above the $0.37 consensus estimate, while revenue declined 3.1% year over year. The company pays a quarterly dividend of $0.17, equivalent to a 6.2% annualized yield.

Congress Asset Management Co. raised its stake in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 21.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,531,380 shares of the company's stock after purchasing an additional 272,805 shares during the period. Congress Asset Management Co. owned approximately 1.10% of Nomad Foods worth $15,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. purchased a new stake in Nomad Foods in the 4th quarter valued at $955,000. PYA Waltman Capital LLC boosted its holdings in Nomad Foods by 58.8% during the 4th quarter. PYA Waltman Capital LLC now owns 433,979 shares of the company's stock worth $5,429,000 after acquiring an additional 160,728 shares during the last quarter. Sei Investments Co. boosted its holdings in Nomad Foods by 68.6% during the 1st quarter. Sei Investments Co. now owns 518,813 shares of the company's stock worth $4,986,000 after acquiring an additional 211,183 shares during the last quarter. Endure Capital Management LLC bought a new stake in shares of Nomad Foods in the 1st quarter worth $4,236,000. Finally, Invenomic Capital Management LP grew its stake in shares of Nomad Foods by 75.9% in the 4th quarter. Invenomic Capital Management LP now owns 1,675,263 shares of the company's stock worth $20,958,000 after acquiring an additional 722,995 shares in the last quarter. 75.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOMD. Zacks Research lowered shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a research report on Monday, August 17th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $11.00 price objective on shares of Nomad Foods in a research report on Tuesday, July 21st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Nomad Foods in a research note on Tuesday, September 29th. Barclays lifted their target price on shares of Nomad Foods from $12.00 to $14.00 and gave the stock an "overweight" rating in a research report on Monday, July 20th. Finally, BTIG Research restated a "buy" rating and issued a $15.00 target price on shares of Nomad Foods in a research note on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $13.25.

Insiders Place Their Bets

In other news, CEO Dominic Brisby purchased 50,000 shares of the company's stock in a transaction dated Monday, August 24th. The shares were purchased at an average price of $12.38 per share, with a total value of $619,000.00. Following the transaction, the chief executive officer directly owned 726,794 shares of the company's stock, valued at approximately $8,997,709.72. This represents a 7.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ruben Baldew purchased 28,290 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average price of $11.85 per share, with a total value of $335,236.50. Following the purchase, the chief financial officer directly owned 367,172 shares in the company, valued at $4,350,988.20. This trade represents a 8.35% increase in their position. The disclosure for this purchase is available in the SEC filing.

Nomad Foods Trading Up 2.8%

NYSE NOMD opened at $10.99 on Wednesday. The business's fifty day moving average is $11.39 and its 200-day moving average is $10.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.10 and a quick ratio of 0.66. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 10.77 and a beta of 0.75. Nomad Foods Limited has a one year low of $8.99 and a one year high of $13.08.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. The company had revenue of $825.94 million during the quarter, compared to analyst estimates of $825.02 million. Nomad Foods had a net margin of 4.20% and a return on equity of 8.88%. The firm's revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. Equities research analysts predict that Nomad Foods Limited will post 1.63 EPS for the current year.

Nomad Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend was Tuesday, August 11th. Nomad Foods's dividend payout ratio (DPR) is currently 66.67%.

Nomad Foods Profile

Nomad Foods Ltd. is a European food company focused on frozen foods. Its portfolio includes frozen fish, vegetables, poultry, potato products, meals, and desserts sold through grocery retailers and other food channels.

The company markets products under several established brands, including Birds Eye in the United Kingdom and Ireland, iglo in Germany and other European markets, Findus in parts of continental Europe, Aunt Bessie's in the United Kingdom, and Goodfella's frozen pizza in selected markets.

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