Raymond James Financial Inc. Sells 30,807 Shares of Nomad Foods Limited $NOMD

Key Points

• Raymond James Financial Inc. reduced its stake in Nomad Foods by 4.3%, owning 682,366 shares valued at approximately $13.4 million after selling 30,807 shares in the first quarter.
• Nomad Foods announced a quarterly dividend of $0.17 per share, representing an annualized dividend of $0.68 and a yield of 4.4%.
• Nomad Foods reported a quarterly earnings per share of $0.45, exceeding estimates, with revenues of $879.27 million despite a 0.8% decline year-over-year.

Raymond James Financial Inc. decreased its holdings in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 682,366 shares of the company's stock after selling 30,807 shares during the period. Raymond James Financial Inc. owned about 0.44% of Nomad Foods worth $13,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of NOMD. Boston Partners increased its stake in Nomad Foods by 11.1% in the 1st quarter. Boston Partners now owns 10,209,283 shares of the company's stock worth $200,615,000 after buying an additional 1,019,957 shares in the last quarter. Vident Advisory LLC purchased a new stake in Nomad Foods in the 4th quarter worth $9,003,000. Brown Advisory Inc. increased its stake in Nomad Foods by 5.2% in the 4th quarter. Brown Advisory Inc. now owns 8,376,162 shares of the company's stock worth $140,552,000 after buying an additional 410,455 shares in the last quarter. Victory Capital Management Inc. increased its stake in Nomad Foods by 17.3% in the 1st 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. Finally, Congress Asset Management Co. purchased a new stake in Nomad Foods in the 1st quarter worth $7,383,000. Hedge funds and other institutional investors own 75.26% of the company's stock.

Nomad Foods Price Performance

Shares of NOMD traded down $0.45 during midday trading on Thursday, hitting $14.90. 998,226 shares of the company traded hands, compared to its average volume of 991,924. The firm has a 50 day moving average of $16.48 and a 200-day moving average of $17.95. Nomad Foods Limited has a 52 week low of $14.72 and a 52 week high of $20.81. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 10.20 and a beta of 0.70. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.63 and a current ratio of 1.02.

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

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.6%. Nomad Foods's dividend payout ratio (DPR) is presently 46.58%.

Analyst Ratings Changes

A number of brokerages have issued reports on NOMD. Mizuho cut their price target on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Barclays cut their price target on 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, Wall Street Zen lowered Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Nomad Foods currently has an average rating of "Buy" and an average price target of $20.33.

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.