Engineers Gate Manager LP Sells 242,617 Shares of Nomad Foods Limited $NOMD

Key Points

• Engineers Gate Manager LP reduced its Nomad Foods stake by 79.9%, selling 242,617 shares and retaining 60,870 shares valued at approximately $667,000.
• Nomad Foods insiders signaled confidence by buying shares: CEO Dominic Brisby purchased 50,000 shares, while CFO Ruben Baldew bought 28,290 shares.
• The company exceeded quarterly EPS expectations, reporting $0.45 versus $0.37 forecast, and maintains a quarterly dividend of $0.17, yielding approximately 6.4%. Analysts’ consensus rating is “Hold,” with a $13.25 target price.

Engineers Gate Manager LP cut its position in Nomad Foods Limited (NYSE:NOMD - Free Report) by 79.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,870 shares of the company's stock after selling 242,617 shares during the period. Engineers Gate Manager LP's holdings in Nomad Foods were worth $667,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in shares of Nomad Foods during the fourth quarter worth about $955,000. PYA Waltman Capital LLC grew its position in shares of Nomad Foods by 58.8% in the 4th quarter. PYA Waltman Capital LLC now owns 433,979 shares of the company's stock valued at $5,429,000 after purchasing an additional 160,728 shares during the period. Endure Capital Management LLC acquired a new position in shares of Nomad Foods in the 1st quarter valued at approximately $4,236,000. Lazard Asset Management LLC bought a new stake in Nomad Foods during the 1st quarter worth approximately $3,029,000. Finally, Invenomic Capital Management LP increased its stake in Nomad Foods by 75.9% during the 4th quarter. Invenomic Capital Management LP now owns 1,675,263 shares of the company's stock worth $20,958,000 after purchasing an additional 722,995 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nomad Foods

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

Nomad Foods Stock Performance

Shares of NOMD stock opened at $10.57 on Tuesday. The company has a fifty day moving average price of $11.63 and a two-hundred day moving average price of $10.64. Nomad Foods Limited has a one year low of $8.99 and a one year high of $13.55. The stock has a market cap of $1.48 billion, a P/E ratio of 10.36 and a beta of 0.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.10 and a quick ratio of 0.66.

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

Nomad Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Tuesday, August 11th. Nomad Foods's payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NOMD shares. Weiss Ratings raised shares of Nomad Foods from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 2nd. Zacks Research downgraded Nomad Foods from a "hold" rating to a "strong sell" rating in a research note on Monday, August 17th. Barclays boosted their price target on Nomad Foods from $12.00 to $14.00 and gave the company an "overweight" rating in a report on Monday, July 20th. BTIG Research reissued a "buy" rating and issued a $15.00 target price on shares of Nomad Foods in a research report on Friday, August 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $11.00 target price on shares of Nomad Foods in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nomad Foods presently has an average rating of "Hold" and a consensus target price of $13.25.

About Nomad Foods

Nomad Foods is a European food company focused on the frozen-food market. Its portfolio includes frozen fish, vegetables, meals, poultry products, potato products and ice cream, which it sells through retail and foodservice channels.

The company's principal brands include Birds Eye in the United Kingdom and other markets, Findus in several European countries, and iglo in Germany, Austria and other parts of continental Europe. Its portfolio also includes Aunt Bessie's and Goodfella's, among other regional brands.

Nomad Foods was formed in 2014 and acquired the Iglo Group, including the Birds Eye, Findus and iglo businesses, in 2015.

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