Legend Financial Advisors Inc. Purchases Shares of 40,327 Nomad Foods Limited $NOMD

Key Points

• Legend Financial Advisors Inc. acquired 40,327 shares of Nomad Foods Limited, valued at approximately $685,000, marking a new position for the firm in the second quarter.
• Several hedge funds, including Boston Partners and Ameriprise Financial Inc., have increased their holdings in Nomad Foods significantly during the first quarter, with institutional investors controlling 75.26% of the shares.
• Nomad Foods recently announced a quarterly dividend of $0.17 per share, representing a 5.3% dividend yield, while the company reported a positive earnings per share of $0.45 for the last quarter.

Legend Financial Advisors Inc. purchased a new position in Nomad Foods Limited (NYSE:NOMD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40,327 shares of the company's stock, valued at approximately $685,000.

Several other hedge funds have also modified their holdings of NOMD. Boston Partners grew its stake in Nomad Foods by 11.1% during the 1st quarter. Boston Partners now owns 10,209,283 shares of the company's stock worth $200,615,000 after purchasing an additional 1,019,957 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Nomad Foods by 46.2% in the 1st quarter. Ameriprise Financial Inc. now owns 1,851,199 shares of the company's stock valued at $36,376,000 after buying an additional 585,054 shares during the period. Victory Capital Management Inc. grew its position in shares of Nomad Foods by 17.3% during the first quarter. Victory Capital Management Inc. now owns 2,724,866 shares of the company's stock worth $53,544,000 after buying an additional 402,599 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of Nomad Foods during the first quarter worth approximately $7,383,000. Finally, Millennium Management LLC raised its holdings in Nomad Foods by 81.3% in the first quarter. Millennium Management LLC now owns 656,686 shares of the company's stock valued at $12,904,000 after acquiring an additional 294,386 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on NOMD. Mizuho lowered their price target on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Barclays lowered their target price on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, BTIG Research dropped their price objective on Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Nomad Foods has a consensus rating of "Buy" and a consensus price target of $19.75.

Nomad Foods Stock Performance

NYSE NOMD opened at $12.93 on Friday. 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 Limited has a 1 year low of $12.90 and a 1 year high of $20.81. The company has a market capitalization of $1.98 billion, a PE ratio of 8.85 and a beta of 0.70. The company has a fifty day moving average of $15.42 and a two-hundred day moving average of $17.38.

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

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, August 11th. Nomad Foods's dividend payout ratio is presently 46.58%.

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.

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