Miller Howard Investments Inc. NY Acquires New Position in Nomad Foods Limited $NOMD

Key Points

• Miller Howard Investments Inc. NY acquired a new stake in Nomad Foods Limited, purchasing 26,396 shares valued at approximately $448,000.
• Nomad Foods recently announced a quarterly dividend of $0.17 per share, representing an annualized dividend of $0.68 and a dividend yield of 5.1%.
• Several analysts have recently adjusted their price targets for Nomad Foods, with consensus rating of "Buy" and an average target price of $19.75.

Miller Howard Investments Inc. NY acquired a new stake in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 26,396 shares of the company's stock, valued at approximately $448,000.

A number of other hedge funds also recently made changes to their positions in NOMD. Jane Street Group LLC grew its stake in shares of Nomad Foods by 285.1% during the 4th quarter. Jane Street Group LLC now owns 50,489 shares of the company's stock valued at $847,000 after acquiring an additional 37,377 shares during the period. Lazard Asset Management LLC bought a new position in shares of Nomad Foods during the 4th quarter valued at approximately $134,000. Tidal Investments LLC bought a new position in shares of Nomad Foods during the 4th quarter valued at approximately $677,000. Squarepoint Ops LLC bought a new position in shares of Nomad Foods during the 4th quarter valued at approximately $811,000. Finally, Voloridge Investment Management LLC lifted its holdings in Nomad Foods by 14.4% in the 4th quarter. Voloridge Investment Management LLC now owns 524,105 shares of the company's stock worth $8,794,000 after purchasing an additional 66,013 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on NOMD shares. Mizuho lowered their price target on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. BTIG Research lowered their price target on Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Barclays lowered their price target on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $19.75.

Nomad Foods Stock Down 2.3%

Shares of NOMD opened at $13.35 on Friday. The company has a market cap of $2.05 billion, a PE ratio of 9.14 and a beta of 0.70. The business has a fifty day moving average of $15.76 and a 200 day moving average of $17.56. Nomad Foods Limited has a 52-week low of $13.31 and a 52-week high of $20.81. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The company had revenue of $879.27 million during the quarter, compared to the consensus estimate of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.Nomad Foods's revenue was down .8% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. On average, sell-side analysts expect that Nomad Foods Limited will post 1.82 EPS for the current year.

Nomad Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Monday, August 11th. Nomad Foods's dividend payout ratio (DPR) is 46.58%.

Nomad Foods 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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