Nomad Foods Limited $NOMD Shares Sold by PharVision Advisers LLC

Key Points

• PharVision Advisers LLC has significantly reduced its stake in Nomad Foods Limited by 47.5%, resulting in ownership of 19,231 shares valued at approximately $378,000.
• In the 1st quarter, several hedge funds increased their positions in Nomad Foods, with Boston Partners adding over 1 million shares, raising their total to 10.2 million shares valued at around $200.6 million.
• Nomad Foods reported $0.45 EPS for the last quarter, exceeding expectations, while also announcing a quarterly dividend of $0.17 per share with a dividend yield of 4.6%.

PharVision Advisers LLC reduced its stake in Nomad Foods Limited (NYSE:NOMD - Free Report) by 47.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,231 shares of the company's stock after selling 17,383 shares during the period. PharVision Advisers LLC's holdings in Nomad Foods were worth $378,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Boston Partners grew its position in shares of Nomad Foods by 11.1% during the first quarter. Boston Partners now owns 10,209,283 shares of the company's stock worth $200,615,000 after acquiring an additional 1,019,957 shares during the last quarter. Brown Advisory Inc. grew its position in Nomad Foods by 0.8% in the 1st 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 during the last quarter. Allspring Global Investments Holdings LLC grew its position in Nomad Foods by 3.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,824,222 shares of the company's stock valued at $134,096,000 after buying an additional 254,314 shares during the last quarter. Victory Capital Management Inc. grew its position 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 valued at $53,544,000 after buying an additional 402,599 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in 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 last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NOMD. Mizuho lowered their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Barclays lowered their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Nomad Foods currently has a consensus rating of "Buy" and a consensus price target of $20.33.

Nomad Foods Price Performance

Shares of NYSE:NOMD traded up $0.14 during midday trading on Thursday, hitting $14.25. 1,022,516 shares of the stock were exchanged, compared to its average volume of 884,256. The stock has a market cap of $2.19 billion, a P/E ratio of 9.75 and a beta of 0.70. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81. Nomad Foods Limited has a twelve month low of $13.96 and a twelve month high of $20.81. The company has a 50 day moving average price of $16.25 and a 200-day moving average price of $17.84.

Nomad Foods (NYSE:NOMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The business 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%.The business's revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 EPS. On average, research analysts forecast that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, August 11th. Nomad Foods's payout ratio is 46.58%.

About Nomad Foods

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.