Hussman Strategic Advisors Inc. Purchases Shares of 168,000 Nomad Foods Limited $NOMD

Key Points

• Hussman Strategic Advisors bought a new stake of 168,000 shares in Nomad Foods (NYSE:NOMD), valued at about $2.10 million and representing roughly 0.11% ownership.
• Nomad Foods declared a quarterly dividend of $0.17 per share (ex-dividend May 12, payable May 28), implying a 7.1% yield and $0.68 annualized payout.
• Analyst sentiment is mixed: MarketBeat's consensus rating is Hold with an average price target of $12.50 after several recent downgrades and target cuts.

Hussman Strategic Advisors Inc. purchased a new stake in Nomad Foods Limited (NYSE:NOMD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 168,000 shares of the company's stock, valued at approximately $2,102,000. Hussman Strategic Advisors Inc. owned 0.11% of Nomad Foods at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Nomad Foods by 9.2% in the 1st quarter. Royal Bank of Canada now owns 143,968 shares of the company's stock valued at $2,829,000 after purchasing an additional 12,131 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Nomad Foods by 81.3% in the 1st quarter. Millennium Management LLC now owns 656,686 shares of the company's stock valued at $12,904,000 after purchasing an additional 294,386 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Nomad Foods by 50.2% in the 1st quarter. Jane Street Group LLC now owns 75,847 shares of the company's stock valued at $1,490,000 after purchasing an additional 25,358 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Nomad Foods in the 2nd quarter valued at $221,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Nomad Foods by 427.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 105,871 shares of the company's stock valued at $1,799,000 after purchasing an additional 85,793 shares in the last quarter. Institutional investors own 75.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays reduced 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. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $10.00 target price (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th. Zacks Research downgraded shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a research note on Monday, March 2nd. BTIG Research reduced their target price on shares of Nomad Foods from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. Finally, Weiss Ratings downgraded shares of Nomad Foods from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Nomad Foods has a consensus rating of "Hold" and an average price target of $12.50.

Nomad Foods Stock Down 2.1%

Shares of NYSE NOMD opened at $9.51 on Friday. The firm's 50-day simple moving average is $10.11 and its 200 day simple moving average is $11.48. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 9.33 and a beta of 0.69. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. Nomad Foods Limited has a 12-month low of $9.39 and a 12-month high of $20.29.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Tuesday, May 12th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.68 annualized dividend and a yield of 7.1%. Nomad Foods's dividend payout ratio is 66.67%.

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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