SG Americas Securities LLC Cuts Stake in Nomad Foods Limited $NOMD

Key Points

• SG Americas Securities LLC cut its Nomad Foods stake by 57.5% in the first quarter, leaving it with 98,341 shares worth about $945,000.
• Nomad Foods executives were buying shares: CEO Dominic Brisby purchased 150,000 shares and Director Ian G. H. Ashken bought 100,000 shares, with insiders acquiring 264,731 shares total over the last 90 days.
• The company posted a quarterly earnings beat, reporting $0.27 EPS versus $0.21 expected, while revenue came in at $827.87 million; Nomad also pays a 5.9% dividend yield and analysts currently rate the stock a Moderate Buy.

SG Americas Securities LLC cut its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 57.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,341 shares of the company's stock after selling 133,076 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of Nomad Foods worth $945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. WealthCollab LLC increased its position in Nomad Foods by 242.0% during the 4th quarter. WealthCollab LLC now owns 2,052 shares of the company's stock valued at $26,000 after purchasing an additional 1,452 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Nomad Foods by 3,231.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company's stock worth $29,000 after purchasing an additional 2,262 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Nomad Foods by 469.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company's stock valued at $30,000 after purchasing an additional 1,996 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Nomad Foods during the third quarter valued at approximately $43,000. Finally, Osaic Holdings Inc. increased its holdings in Nomad Foods by 87.4% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company's stock valued at $45,000 after buying an additional 1,240 shares during the period. 75.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Nomad Foods news, CEO Dominic Brisby purchased 150,000 shares of Nomad Foods stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $9.79 per share, with a total value of $1,468,500.00. Following the transaction, the chief executive officer owned 676,794 shares of the company's stock, valued at $6,625,813.26. This represents a 28.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken acquired 100,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of $9.13 per share, with a total value of $913,000.00. Following the completion of the purchase, the director owned 116,916 shares in the company, valued at approximately $1,067,443.08. This trade represents a 591.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 264,731 shares of company stock valued at $2,524,538.

Nomad Foods Stock Performance

Shares of NOMD opened at $11.48 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.66 and a current ratio of 1.06. The stock has a 50-day moving average of $10.14 and a two-hundred day moving average of $10.92. The stock has a market cap of $1.60 billion, a P/E ratio of 11.14 and a beta of 0.69. Nomad Foods Limited has a one year low of $8.99 and a one year high of $18.33.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.06. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The business had revenue of $827.87 million for the quarter, compared to analyst estimates of $804.00 million. During the same period in the prior year, the company earned $0.21 earnings per share. The company's revenue was down 5.9% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. As a group, research analysts predict that Nomad Foods Limited will post 1.75 EPS for the current year.

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Tuesday, May 12th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 5.9%. The ex-dividend date was Tuesday, May 12th. Nomad Foods's dividend payout ratio is 66.02%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NOMD. Barclays reduced their price objective on shares of Nomad Foods from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. BTIG Research reiterated a "buy" rating and issued a $15.00 price target on shares of Nomad Foods in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $10.00 price target (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Zacks Research upgraded Nomad Foods from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded Nomad Foods from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Nomad Foods currently has a consensus rating of "Moderate Buy" and an average price target of $12.50.

Nomad Foods Company Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company's portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella's and Aunt Bessie's, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe's largest frozen foods platform.

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