Gabelli Funds LLC Sells 118,082 Shares of Nomad Foods Limited $NOMD

Key Points

• Gabelli Funds LLC sharply reduced its stake in Nomad Foods, selling 118,082 shares in the fourth quarter and cutting its holdings by 80.8% to 28,000 shares valued at about $350,000.
• Nomad Foods posted better-than-expected quarterly results, reporting EPS of $0.27 versus the $0.21 estimate and revenue of $827.87 million, while also guiding FY 2026 EPS to a range of 1.720 to 1.900.
• Insiders bought heavily and the company pays a sizable dividend: CEO Dominic Brisby and Director Ian G. H. Ashken made large purchases, and Nomad Foods declared a quarterly dividend of $0.17 per share, implying a 6.6% yield.

Gabelli Funds LLC lessened its holdings in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 80.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,000 shares of the company's stock after selling 118,082 shares during the period. Gabelli Funds LLC's holdings in Nomad Foods were worth $350,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NOMD. Ruffer LLP bought a new position in Nomad Foods in the 4th quarter worth about $26,823,000. Royce & Associates LP boosted its stake in Nomad Foods by 45.4% in the 3rd quarter. Royce & Associates LP now owns 2,451,806 shares of the company's stock worth $32,241,000 after purchasing an additional 765,690 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Nomad Foods by 164.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company's stock worth $20,312,000 after purchasing an additional 742,813 shares in the last quarter. Atlantic Investment Management Inc. bought a new position in Nomad Foods in the 3rd quarter worth about $9,494,000. Finally, Invenomic Capital Management LP boosted its stake in Nomad Foods by 144.2% in the 3rd quarter. Invenomic Capital Management LP now owns 952,268 shares of the company's stock worth $12,522,000 after purchasing an additional 562,304 shares in the last quarter. Institutional investors own 75.26% of the company's stock.

Nomad Foods Price Performance

NOMD opened at $10.27 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.66 and a current ratio of 1.06. The stock has a market capitalization of $1.44 billion, a P/E ratio of 9.97 and a beta of 0.69. The company's 50-day simple moving average is $9.73 and its two-hundred day simple moving average is $11.28. Nomad Foods Limited has a 52-week low of $8.99 and a 52-week high of $18.33.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. Nomad Foods had a net margin of 4.43% and a return on equity of 9.05%. The business had revenue of $827.87 million for the quarter, compared to analysts' expectations of $804.00 million. During the same quarter in the prior year, the business earned $0.21 EPS. The business's revenue for the quarter was down 5.9% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. As a group, analysts predict that Nomad Foods Limited will post 1.76 EPS for the current year.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 12th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Tuesday, May 12th. Nomad Foods's dividend payout ratio (DPR) is currently 66.02%.

Insider Activity

In related news, CEO Dominic Brisby acquired 150,000 shares of Nomad Foods stock in a transaction dated Friday, May 15th. The stock was purchased at an average cost of $9.79 per share, for a total transaction of $1,468,500.00. Following the purchase, the chief executive officer directly owned 676,794 shares of the company's stock, valued at approximately $6,625,813.26. This trade represents a 28.47% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ian G. H. Ashken purchased 100,000 shares of the business's stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $9.13 per share, with a total value of $913,000.00. Following the acquisition, the director directly owned 116,916 shares of the company's stock, valued at $1,067,443.08. This trade represents a 591.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 264,731 shares of company stock valued at $2,524,538 in the last 90 days. Company insiders own 17.27% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NOMD shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $10.00 price target (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th. Mizuho dropped their price target on shares of Nomad Foods from $15.00 to $13.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 3rd. Barclays lowered their target price on shares of Nomad Foods from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 14th. Zacks Research upgraded shares of Nomad Foods from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 13th. Finally, BTIG Research restated a "buy" rating and set a $15.00 target price on shares of Nomad Foods in a research note on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Nomad Foods presently has a consensus rating of "Moderate Buy" and an average price target of $12.50.

About Nomad Foods

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company's portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella's and Aunt Bessie's, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe's largest frozen foods platform.

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