Kendall Capital Management Raises Stock Holdings in Nomad Foods Limited $NOMD

Key Points

• Kendall Capital Management increased its stake in Nomad Foods Limited by 62.3% during Q2, owning approximately 0.05% of the company's shares worth $1.4 million after acquiring an additional 31,795 shares.
• Nomad Foods reported earnings of $0.45 per share for the last quarter, surpassing estimates, with a revenue of approximately $879.27 million, which also exceeded expectations.
• The company recently announced a quarterly dividend of $0.17, representing an annualized yield of 5.2% and a payout ratio of 46.58%.

Kendall Capital Management boosted its stake in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 62.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,795 shares of the company's stock after purchasing an additional 31,795 shares during the period. Kendall Capital Management owned about 0.05% of Nomad Foods worth $1,407,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NOMD. Boston Partners lifted its holdings in shares of Nomad Foods by 11.1% during the 1st quarter. Boston Partners now owns 10,209,283 shares of the company's stock valued at $200,615,000 after buying an additional 1,019,957 shares during the period. Ameriprise Financial Inc. boosted its position in Nomad Foods by 46.2% in the first quarter. Ameriprise Financial Inc. now owns 1,851,199 shares of the company's stock worth $36,376,000 after purchasing an additional 585,054 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Nomad Foods by 17.3% during the 1st quarter. Victory Capital Management Inc. now owns 2,724,866 shares of the company's stock valued at $53,544,000 after purchasing an additional 402,599 shares during the last quarter. Congress Asset Management Co. bought a new position in shares of Nomad Foods in the 1st quarter worth approximately $7,383,000. Finally, Millennium Management LLC boosted its holdings in shares of Nomad Foods by 81.3% in the first quarter. Millennium Management LLC now owns 656,686 shares of the company's stock worth $12,904,000 after buying an additional 294,386 shares during the last quarter. Institutional investors own 75.26% of the company's stock.

Nomad Foods Stock Performance

NYSE:NOMD opened at $13.02 on Friday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 8.92 and a beta of 0.70. Nomad Foods Limited has a 1 year low of $12.90 and a 1 year high of $20.81. The stock's 50 day simple moving average is $15.33 and its two-hundred day simple moving average is $17.33. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63.

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

Nomad Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Monday, August 11th. Nomad Foods's dividend payout ratio is 46.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BTIG Research cut their price objective on shares of Nomad Foods from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. Barclays lowered 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. Finally, Mizuho reduced their price target on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Nomad Foods presently has an average rating of "Buy" and a consensus target price of $19.75.

Nomad Foods Company 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.

Want to see what other hedge funds are holding NOMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nomad Foods Limited (NYSE:NOMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.