Entropy Technologies LP Purchases New Shares in Nomad Foods Limited (NYSE:NOMD)

Key Points

• Entropy Technologies LP has acquired a new stake in Nomad Foods Limited, purchasing 20,621 shares valued at approximately $405,000 during the first quarter.
• Nomad Foods recently reported a quarterly earnings per share (EPS) of $0.45, surpassing analysts' expectations and generating a revenue of $879.27 million.
• The company declared a $0.17 quarterly dividend, which will be paid on August 26th, representing an annualized yield of 4.4%.

Entropy Technologies LP acquired a new stake in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 20,621 shares of the company's stock, valued at approximately $405,000.

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Nomad Foods by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,211,211 shares of the company's stock valued at $23,800,000 after acquiring an additional 70,344 shares during the period. Factorial Partners LLC grew its stake in shares of Nomad Foods by 0.5% during the 1st quarter. Factorial Partners LLC now owns 192,100 shares of the company's stock valued at $3,775,000 after acquiring an additional 1,000 shares during the period. Obermeyer Wealth Partners bought a new stake in Nomad Foods during the first quarter valued at about $865,000. Napatree Capital LLC bought a new stake in Nomad Foods during the first quarter valued at about $548,000. Finally, Victory Capital Management Inc. raised 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 valued at $53,544,000 after acquiring an additional 402,599 shares during the period. 75.26% of the stock is currently owned by institutional investors.

Nomad Foods Price Performance

Shares of NYSE:NOMD traded up $0.01 during midday trading on Friday, reaching $15.02. 1,011,390 shares of the company were exchanged, compared to its average volume of 1,105,977. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81. The business's fifty day moving average is $17.00 and its two-hundred day moving average is $18.20. Nomad Foods Limited has a one year low of $14.72 and a one year high of $20.81. The stock has a market cap of $2.30 billion, a PE ratio of 10.29 and a beta of 0.72.

Nomad Foods (NYSE:NOMD - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The firm had revenue of $879.27 million during the quarter, compared to analyst estimates of $762.81 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. Nomad Foods's revenue for the quarter was down .8% on a year-over-year basis. As a group, analysts predict that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, August 11th. Nomad Foods's dividend payout ratio is currently 46.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen cut Nomad Foods from a "buy" rating to a "hold" rating in a report on Friday, May 9th. Mizuho dropped their price target 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. Finally, Barclays dropped their price target on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, August 8th.

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.