Nomad Foods Limited $NOMD Stake Lessened by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. has sold 765,428 shares of Nomad Foods Limited, reducing its holdings by 15.3% to own a total of 4,239,841 shares, valued at approximately $83.3 million.
• Nomad Foods reported earnings per share of $0.45 for the last quarter, exceeding estimates, with a revenue of $879.27 million, compared to the expected $762.81 million.
• The company also declared a quarterly dividend of $0.17 per share, yielding 4.6%, set to be paid on August 26th, 2023.

Fuller & Thaler Asset Management Inc. reduced its position in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 15.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,239,841 shares of the company's stock after selling 765,428 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 2.76% of Nomad Foods worth $83,313,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in Nomad Foods during the 1st quarter valued at $32,000. Johnson Financial Group Inc. bought a new position in Nomad Foods during the 4th quarter valued at $62,000. Tower Research Capital LLC TRC boosted its stake in Nomad Foods by 13,508.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,396 shares of the company's stock valued at $107,000 after purchasing an additional 6,349 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Nomad Foods during the 4th quarter valued at $134,000. Finally, Quarry LP boosted its stake in shares of Nomad Foods by 964.8% during the 4th quarter. Quarry LP now owns 8,646 shares of the company's stock worth $145,000 after acquiring an additional 7,834 shares in the last quarter. 75.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOMD. Barclays cut their target price on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wall Street Zen lowered Nomad Foods from a "buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Mizuho cut their target price on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $20.33.

Nomad Foods Stock Up 0.8%

Shares of NOMD traded up $0.13 during mid-day trading on Friday, reaching $15.60. The company's stock had a trading volume of 905,145 shares, compared to its average volume of 1,221,664. The business has a fifty day moving average of $16.79 and a 200 day moving average of $18.11. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 10.68 and a beta of 0.72. Nomad Foods Limited has a 1 year low of $14.72 and a 1 year high of $20.81. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.01. The company had revenue of $879.27 million during the quarter, compared to analyst estimates of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.The company's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be issued a $0.17 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.4%. Nomad Foods's dividend payout ratio is presently 46.58%.

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.