PDT Partners LLC Acquires 53,121 Shares of Nomad Foods Limited $NOMD

Key Points

• PDT Partners LLC increased its stake in Nomad Foods by 51.3%, acquiring an additional 53,121 shares, bringing its total holdings to 156,695 shares valued at approximately $3.08 million.
• Nomad Foods reported a quarterly earnings beat with an EPS of $0.45, exceeding estimates, and generated revenue of $879.27 million, surpassing analyst expectations of $762.81 million.
• Analysts are showing mixed sentiments, with Mizuho and Barclays adjusting price targets down for Nomad Foods, setting them to $20.00 and $18.00 respectively, while maintaining an average "Buy" rating with a consensus price target of $20.33.

PDT Partners LLC raised its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 51.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 156,695 shares of the company's stock after purchasing an additional 53,121 shares during the quarter. PDT Partners LLC owned approximately 0.10% of Nomad Foods worth $3,079,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Boston Partners raised 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. raised its position in shares of Nomad Foods by 0.8% during the first quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock worth $165,890,000 after acquiring an additional 66,060 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Nomad Foods by 3.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,824,222 shares of the company's stock worth $134,096,000 after acquiring an additional 254,314 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Nomad Foods by 17.3% during the first quarter. Victory Capital Management Inc. now owns 2,724,866 shares of the company's stock worth $53,544,000 after acquiring an additional 402,599 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Nomad Foods by 46.2% during the first quarter. Ameriprise Financial Inc. now owns 1,851,199 shares of the company's stock worth $36,376,000 after acquiring an additional 585,054 shares during the last quarter. Institutional investors own 75.26% of the company's stock.

Nomad Foods Stock Down 1.6%

Shares of NOMD stock traded down $0.25 on Friday, hitting $14.69. 4,137,445 shares of the stock were exchanged, compared to its average volume of 813,418. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.25 billion, a P/E ratio of 10.06 and a beta of 0.70. The business has a 50-day moving average of $16.43 and a 200 day moving average of $17.93. Nomad Foods Limited has a fifty-two week low of $14.46 and a fifty-two 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 earnings per share (EPS) 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 business had revenue of $879.27 million for the quarter, compared to analyst estimates of $762.81 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. Nomad Foods's revenue was down .8% on a year-over-year basis. Equities analysts anticipate that Nomad Foods Limited will post 1.82 EPS for the current year.

Nomad Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a $0.17 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 4.6%. Nomad Foods's dividend payout ratio is currently 46.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Wall Street Zen downgraded Nomad Foods from a "buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, Mizuho dropped their price objective on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $20.33.

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.