Nomad Foods Limited $NOMD Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Nomad Foods by 2.9%, owning 6,623,522 shares worth approximately $115.2 million after selling 200,700 shares.
• Research analysts have downgraded Nomad Foods, with Zacks Research changing its rating from "hold" to a "strong sell," reflecting concerns about the stock's performance.
• Nomad Foods declared a quarterly dividend of $0.17 per share, resulting in an annualized yield of 5.6%, with a payout ratio of 46.58%.

Allspring Global Investments Holdings LLC cut its holdings in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 2.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,623,522 shares of the company's stock after selling 200,700 shares during the period. Allspring Global Investments Holdings LLC owned about 4.32% of Nomad Foods worth $115,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Boston Partners lifted its position in Nomad Foods by 11.1% during the first quarter. Boston Partners now owns 10,209,283 shares of the company's stock valued at $200,615,000 after purchasing an additional 1,019,957 shares during the period. Brown Advisory Inc. increased its holdings in Nomad Foods by 0.8% in the first quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock valued at $165,890,000 after buying an additional 66,060 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Nomad Foods by 17.3% in the first quarter. Victory Capital Management Inc. now owns 2,724,866 shares of the company's stock valued at $53,544,000 after buying an additional 402,599 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Nomad Foods by 46.2% in the first 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 in the last quarter. Finally, Townsend & Associates Inc increased its holdings in Nomad Foods by 1.8% in the first quarter. Townsend & Associates Inc now owns 1,617,466 shares of the company's stock valued at $31,783,000 after buying an additional 28,414 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on NOMD shares. Zacks Research cut shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a report on Monday, September 29th. 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 report on Wednesday, September 17th. Barclays cut their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nomad Foods in a report on Wednesday, October 8th. Finally, Mizuho cut their target price on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $19.75.

Nomad Foods Stock Down 0.2%

NOMD stock opened at $12.11 on Tuesday. The stock has a market capitalization of $1.86 billion, a P/E ratio of 8.30 and a beta of 0.70. The firm has a 50-day simple moving average of $14.29 and a 200-day simple moving average of $16.78. 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 Limited has a 52 week low of $11.94 and a 52 week high of $20.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last released 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 during 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 company's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 earnings per share. Equities analysts forecast that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were given a dividend of $0.17 per share. The ex-dividend date was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 5.6%. Nomad Foods's payout ratio is presently 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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