Sound Income Strategies LLC Acquires 130,637 Shares of Nomad Foods Limited $NOMD

Key Points

• Sound Income Strategies LLC increased its stake in Nomad Foods by 64.2%, buying 130,637 shares to hold 334,277 shares (about 0.22% of the company) worth $3.894 million.
• Several analysts have cut price targets and issued downgrades in March, and the stock carries a consensus "Hold" rating with a consensus target price of $12.75.
• Nomad recently paid a quarterly dividend of $0.17 (annualized $0.68) for a 6.9% yield

Sound Income Strategies LLC grew its holdings in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 64.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 334,277 shares of the company's stock after purchasing an additional 130,637 shares during the quarter. Sound Income Strategies LLC owned about 0.22% of Nomad Foods worth $3,894,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOMD. Johnson Financial Group Inc. bought a new position in Nomad Foods during the third quarter worth about $43,000. Mondrian Investment Partners LTD purchased a new stake in shares of Nomad Foods in the third quarter worth about $44,000. Osaic Holdings Inc. lifted its holdings in shares of Nomad Foods by 87.4% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company's stock worth $45,000 after buying an additional 1,240 shares in the last quarter. Arizona PSPRS Trust purchased a new stake in shares of Nomad Foods in the third quarter worth about $121,000. Finally, Virtu Financial LLC purchased a new stake in shares of Nomad Foods in the third quarter worth about $144,000. Institutional investors own 75.26% of the company's stock.

Analyst Ratings Changes

NOMD has been the topic of a number of recent analyst reports. BTIG Research lowered their price target on shares of Nomad Foods from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 2nd. Weiss Ratings downgraded shares of Nomad Foods from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, March 2nd. Zacks Research downgraded shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Barclays lowered their price target on shares of Nomad Foods from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, March 2nd. Finally, 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 report on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $12.75.

Nomad Foods Trading Down 0.7%

Shares of NOMD opened at $9.79 on Wednesday. The firm's 50 day simple moving average is $11.16 and its 200 day simple moving average is $11.85. The company has a market capitalization of $1.39 billion, a P/E ratio of 9.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66. Nomad Foods Limited has a 1-year low of $9.43 and a 1-year high of $20.29.

Nomad Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 11th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Wednesday, February 11th. Nomad Foods's dividend payout ratio (DPR) is currently 66.67%.

Nomad Foods 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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