SG Americas Securities LLC Grows Holdings in Nomad Foods Limited $NOMD

Key Points

• SG Americas Securities LLC boosted its stake in Nomad Foods by 460.9% in Q4 to 231,417 shares (about 0.15% of the company, ~$2.9M), and institutional investors now own roughly 75.26% of the stock.
• Nomad Foods paid a quarterly dividend of $0.17 (annualized $0.68), representing a 7.1% yield and a payout ratio of 66.67%.
• Analysts have recently trimmed targets and ratings—several firms cut price targets—leaving a market consensus of "Hold" with a $12.75 average target.

SG Americas Securities LLC increased its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 460.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,417 shares of the company's stock after acquiring an additional 190,159 shares during the quarter. SG Americas Securities LLC owned about 0.15% of Nomad Foods worth $2,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of NOMD. Polaris Capital Management LLC grew its holdings in Nomad Foods by 138.8% in the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company's stock worth $45,261,000 after purchasing an additional 2,000,400 shares during the period. Norges Bank bought a new stake in shares of Nomad Foods in the 2nd quarter worth approximately $15,603,000. Royce & Associates LP boosted its position in shares of Nomad Foods by 45.4% in the 3rd quarter. Royce & Associates LP now owns 2,451,806 shares of the company's stock worth $32,241,000 after purchasing an additional 765,690 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Nomad Foods by 164.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company's stock worth $20,312,000 after buying an additional 742,813 shares during the last quarter. Finally, Atlantic Investment Management Inc. bought a new position in Nomad Foods during the 3rd quarter valued at approximately $9,494,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods Stock Up 0.2%

Nomad Foods stock opened at $9.60 on Friday. Nomad Foods Limited has a 12 month low of $9.43 and a 12 month high of $20.29. The stock has a fifty day simple moving average of $11.27 and a two-hundred day simple moving average of $11.93. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 9.41 and a beta of 0.74.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.68 dividend on an annualized basis and a yield of 7.1%. Nomad Foods's payout ratio is 66.67%.

Wall Street Analyst Weigh In

Several research firms have commented on NOMD. BTIG Research dropped their target price on Nomad Foods from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 2nd. Mizuho lowered their price target on Nomad Foods from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings cut shares of Nomad Foods from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Finally, Zacks Research lowered shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a research note on Monday, March 2nd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $12.75.

About Nomad Foods

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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