Lombard Odier Asset Management Europe Ltd Sells 556,682 Shares of Nomad Foods Limited $NOMD

Key Points

• Lombard Odier Asset Management Europe cut its Nomad Foods stake by 62.5%, selling 556,682 shares and retaining 334,349 shares worth approximately $3.21 million.
• Other institutions increased their holdings, while insiders bought 264,731 shares worth $2.52 million over the past 90 days. Institutional investors own 75.26% of the company, and insiders own 17.27%.
• Nomad Foods reported quarterly EPS of $0.27, beating estimates by $0.06, and declared a $0.17 quarterly dividend, representing a 5.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $13.25.

Lombard Odier Asset Management Europe Ltd reduced its stake in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 62.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 334,349 shares of the company's stock after selling 556,682 shares during the period. Lombard Odier Asset Management Europe Ltd owned approximately 0.24% of Nomad Foods worth $3,213,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Nomad Foods by 9.2% during the first quarter. Royal Bank of Canada now owns 143,968 shares of the company's stock worth $2,829,000 after acquiring an additional 12,131 shares in the last quarter. Millennium Management LLC lifted its position in 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 acquiring an additional 294,386 shares in the last quarter. Jane Street Group LLC boosted its stake in Nomad Foods by 50.2% in the 1st quarter. Jane Street Group LLC now owns 75,847 shares of the company's stock worth $1,490,000 after purchasing an additional 25,358 shares during the period. Cetera Investment Advisers bought a new position in Nomad Foods during the 2nd quarter worth about $221,000. Finally, JPMorgan Chase & Co. raised 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 during the period. Institutional investors own 75.26% of the company's stock.

Insiders Place Their Bets

In related news, CFO Ruben Baldew purchased 14,731 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $9.71 per share, for a total transaction of $143,038.01. Following the purchase, the chief financial officer owned 338,882 shares in the company, valued at approximately $3,290,544.22. This represents a 4.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken purchased 100,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $9.13 per share, for a total transaction of $913,000.00. Following the completion of the acquisition, the director owned 116,916 shares in the company, valued at approximately $1,067,443.08. This trade represents a 591.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 264,731 shares of company stock valued at $2,524,538 over the last ninety days. 17.27% of the stock is currently owned by company insiders.

Nomad Foods Stock Performance

Shares of NOMD opened at $11.93 on Monday. The company has a market cap of $1.67 billion, a PE ratio of 11.59 and a beta of 0.69. The firm has a 50-day moving average of $10.93 and a 200-day moving average of $10.83. Nomad Foods Limited has a one year low of $8.99 and a one year high of $17.30. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.06 and a quick ratio of 0.66.

Nomad Foods (NYSE:NOMD - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $804.00 million. During the same period last year, the business posted $0.21 EPS. Nomad Foods's revenue was down 5.9% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. As a group, equities analysts forecast that Nomad Foods Limited will post 1.75 earnings per share for the current year.

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.68 annualized dividend and a yield of 5.7%. Nomad Foods's dividend payout ratio (DPR) is currently 66.02%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOMD. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $11.00 price target on shares of Nomad Foods in a report on Tuesday, July 21st. Barclays boosted their target price on Nomad Foods from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday, July 20th. Weiss Ratings raised Nomad Foods from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 2nd. BTIG Research reiterated a "buy" rating and issued a $15.00 price target on shares of Nomad Foods in a research note on Wednesday, May 13th. Finally, Zacks Research raised shares of Nomad Foods from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Nomad Foods presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.25.

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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