Polaris Capital Management LLC Has $24.49 Million Position in Nomad Foods Limited $NOMD

Key Points

• Polaris Capital Management LLC reduced its stake in Nomad Foods Limited by 29.1%, holding approximately $24.49 million in shares after selling 590,300 during the second quarter.
• Several large investors have recently adjusted their positions in Nomad Foods, with a majority of institutional investors and hedge funds now owning 75.26% of the company's stock.
• Nomad Foods announced a quarterly dividend of $0.17 per share, representing an annual yield of 5.2% as of the last payment date.

Polaris Capital Management LLC lowered its stake in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 29.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,441,500 shares of the company's stock after selling 590,300 shares during the quarter. Polaris Capital Management LLC owned about 0.94% of Nomad Foods worth $24,491,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new stake in shares of Nomad Foods in the 1st quarter valued at $32,000. State of Wyoming boosted its holdings in shares of Nomad Foods by 56.6% in the 1st 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 in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Nomad Foods in the 1st quarter valued at $196,000. Sciencast Management LP acquired a new stake in shares of Nomad Foods in the 1st quarter valued at $196,000. Finally, First Bank & Trust acquired a new stake in shares of Nomad Foods in the 1st quarter valued at $219,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Wall Street Analysts Forecast Growth

NOMD has been the topic of a number of research analyst reports. Mizuho reduced their target price on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. BTIG Research reduced their target price on Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Zacks Research downgraded Nomad Foods from a "hold" rating to a "strong sell" rating in a report on Monday, September 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nomad Foods in a research note on Saturday, September 27th. Finally, Barclays dropped 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. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $19.75.

Nomad Foods Stock Down 1.0%

Shares of NOMD opened at $13.10 on Friday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 8.97 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 Limited has a 52 week low of $12.89 and a 52 week high of $20.81. The stock has a fifty day moving average of $14.86 and a 200-day moving average of $17.11.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced 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. The business had revenue of $879.27 million during the quarter, compared to analyst estimates of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.Nomad Foods's revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. As a group, sell-side analysts anticipate that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Monday, August 11th. Nomad Foods's dividend payout ratio (DPR) is currently 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.

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