Perpetual Ltd Raises Holdings in Nomad Foods Limited $NOMD

Key Points

• Perpetual Ltd increased its ownership in Nomad Foods Limited by 8.4%, acquiring an additional 42,300 shares, bringing its total to 547,905 shares valued at approximately $9.3 million.
• Recent analyst reports have lowered price targets for Nomad Foods, with Mizuho setting a new target of $20.00 and Barclays at $18.00, while the stock currently holds a consensus rating of "Buy" with a target price of $19.75.
• Nomad Foods recently announced a quarterly dividend of $0.17 per share, equating to an annualized yield of 5.1%, and reported earnings that beat expectations with $0.45 EPS.

Perpetual Ltd raised its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 8.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 547,905 shares of the company's stock after buying an additional 42,300 shares during the quarter. Perpetual Ltd owned about 0.36% of Nomad Foods worth $9,309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOMD. Summit Securities Group LLC purchased a new stake in Nomad Foods in the first quarter valued at about $32,000. Lazard Asset Management LLC acquired a new stake in Nomad Foods during the fourth quarter worth about $134,000. State of Wyoming grew its holdings in Nomad Foods by 56.6% in the first quarter. State of Wyoming now owns 9,466 shares of the company's stock valued at $186,000 after purchasing an additional 3,421 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Nomad Foods in the first quarter valued at approximately $196,000. Finally, Sciencast Management LP acquired a new stake in shares of Nomad Foods in the first quarter worth approximately $196,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOMD has been the topic of a number of research analyst reports. Mizuho lowered their price target on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. BTIG Research lowered their price objective on Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. Finally, Barclays lowered their price objective on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $19.75.

Nomad Foods Trading Up 0.6%

Shares of NOMD stock traded up $0.08 on Tuesday, hitting $13.30. The stock had a trading volume of 461,006 shares, compared to its average volume of 919,831. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63. The firm has a market capitalization of $2.04 billion, a P/E ratio of 9.11 and a beta of 0.70. Nomad Foods Limited has a 1 year low of $13.14 and a 1 year high of $20.81. The company's 50 day moving average price is $15.68 and its 200-day moving average price is $17.49.

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 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 previous year, the firm posted $0.44 EPS. Nomad Foods's revenue for the quarter was down .8% on a year-over-year basis. Analysts anticipate that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were issued a $0.17 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.1%. Nomad Foods's dividend payout ratio is presently 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.