PharVision Advisers LLC Sells 17,383 Shares of Nomad Foods Limited $NOMD

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 decreased its position 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 and Exchange Commission. The fund owned 19,231 shares of the company's stock after selling 17,383 shares during the quarter. PharVision Advisers LLC's holdings in Nomad Foods were worth $378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners grew its position in shares of Nomad Foods by 11.1% in 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 last quarter. Brown Advisory Inc. boosted its stake in shares of 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 during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Nomad Foods by 3.9% in the first 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 period. Victory Capital Management Inc. boosted its stake in shares of 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 during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of 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 during the period. Institutional investors and hedge funds own 75.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NOMD shares. 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. 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. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $20.33.

Nomad Foods Price Performance

NYSE NOMD traded down $0.18 on Monday, hitting $14.53. 1,138,741 shares of the company's stock were exchanged, compared to its average volume of 970,009. The stock has a 50-day moving average of $16.38 and a 200-day moving average of $17.90. 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 52 week low of $14.46 and a 52 week high of $20.81. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 9.95 and a beta of 0.70.

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

Nomad Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 4.7%. Nomad Foods's dividend 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.